Terms
Revenue
What is the amount of money a company makes from sales.
Opportunity Cost
What is what you give up to get something else.
What is a fixed expense
A number based on your history of paying back loans and other debt.
What is a credit score
An amount to an insurance company for an insurance policy.
Wage
What is an hourly income
The difference between a want and a need
What is a want is something that is not necessary to live and a need is something that is necessary to live.
What is the term that refers to an expense that can vary from month to month?
What is a variable expense
What is because you get charged interest on your balance every month you don't pay it in full and end up paying more for the things you used your credit card for.
What is one way you can increase the amount of interest you are earning on your savings account?
Put more money into it each month.
What is a general increase in prices and decrease in the purchasing value of money.
a decrease in the general of prices
What is Deflation
This type of loan is hard to repay because it has high fees and high interest rates.
What is a payday loan.
What is an advantage to using cash to make a purchase?
What is
You can't overspend
You can keep track of how much you spend
An account at a bank that earns interest over a specific period of time is called what?
What is an interest-bearing account.
Amount you must pay before you begin receiving any benefits from your insurance company
What is a deductible
Where should you look to find the fairest and most reliable information about the best model before buying a iphone?
What is a consumer education website that reviews and rates technology.
The term that refers to compensation in forms other than direct payment, such as insurance, sick days, a 401K, and paid vacation days.
What are benefits?
Where does the money come from to buy your purchases when you use your debit card?
What is your checking account.
Loans made to the government or corporations that have less risk and return than stocks are called what?
What are Bonds.
This is the type of insurance that pays damage to other cars' owners if the accident is your fault.
Which is the better buy:
3 oz bag of chips for $1.50.
OR
10 oz bag of chips for $4.00
What is the 10 oz bag of chips for $4.00
$1.50/3 oz = .50 cents/oz
$4.00/10 oz = .40 cents/oz
A tax based on your income that is taken out of your paycheck and given to the government.
What is federal income tax.
In the case of an unexpected financial emergency, such as your car breaking down while you are on vacation, you may have to use this type of payment.
What is a credit card?
A share of ownership in a corporation.
What is a stock