I NEED I WANT
Us humans have an endless demand for these.
What are Wants and Needs?
A product that is expected to last longer than 3 years.
What is Durable?
The number that you use for your debit card.
What is a PIN?
4% sales tax on a $12,500 vehicle purchase.
What is $500?
A detailed report on the history of a vehicle.
What is car FAX?
The value of the next best choice that you did not choose.
What is opportunity cost?
An economic system in which the government controls or owns the businesses.
What is a Command Economy?
When you write a check for more than what is in your account.
What is an Over draft or Bounced check.
The balance on a vehicle that costs $14,000, when you put $1000 down, and get $2000 for your trade.
What is $11,000?
It tells you how much a car should cost.
What is Kelly Blue book?
A condition that is created when the demand is greater than the supply.
What is scarcity?
Foreign factories in which labor is underpaid, abused, and work in unsafe conditions.
What is a Sweatshop?
When your paycheck goes into your account automatically.
What is Direct Deposit?
One year interest charges with a balance of $9,600, and an APR of 10%
What is $960?
An acronym meaning they will take less for the car than the full price, if you are the highest bidder.
What is O.B.O. (Or Best Offer)
Entrepreneurs, Land, Labor, and Capital.
What are the 4 Factors of Production?
Products that are used to make other products.
What are Capital Goods?
The banks electronic address or identification.
What is a routing number?
Interest charges on $15,000, at 9% APR, for 3 years.
What is $4,050 ?
You owe more money on the car than it is worth.
What is upside down?
The total value of goods and services produced in a nation for one year.
What is G.D.P. (Gross Domestic Product)
This is why a Market economy makes better products than a Command economy.
What is Competition?
This protects the funds that customers deposit in a bank.
What is F.D.I.C. (Federal Deposit Insurance Corporation)
The monthly payment when financing $7,200 for 2 years.
What is $300?
When a car loses value over a period of time.
What is depreciation?