Row 1
When supply exceeds demand what is the result of the price of a good or service
The price will decrease
Fees charged by the government on business and individual income, property or products that people are required to pay
Taxes
An oil change for a car is this type of expense
Periodic
A convenient way to spend but one must be careful not to exceed your limit or pay your monthly bill.
credit card
If supply of an item is low and there is a high demand, this is the result of the price
the price will increase
The study of a large economy and how it grows
Macroeconomics
A plan for managing income, spending, and saving during a given period of time (usually monthly)
A Budget
Dental cleanings are this type of expense
Periodic
A savings account that is necessary should an unexpected expense happen
emergency fund
In chapter 9 of Lawn Boy, what was the entire amount of gross income he had made, stocks and business?
58,000
The total amount of income earned before deductions such as taxes
Gross income
Having part ownership in a company; the stockholder shares in the profits of the company
Stocks
A credit card payment is this type of expense
Variable
This is when you owe no one any money
Debt free
What was the investment made by Arnold on behalf of Lawn Boy that was a fun or adventure investment move?
Sponsoring a professional boxer
The total amount of income after deductions such as taxes and health care insurance
Net income
The first stocks purchased by Arnold for Lawn Boy
coffin company
A car payment is this type of expense
Fixed expense
An item in a budget where the costs are different each month
Variable
This term is used to describe someone that is working or has a job
employed
Trading goods or services for other goods and services without using money
Barter
In Lawn Boy, Lawn Boy and Arnold bartered with these two items/services
stocks and mowing lawns
A weekend trip to Pigeon Forge is this type of expense
Discretionary expense
An item expense in a budget that is not necessary but is " up to you"
Discretionary expense
Contrast or tell the main difference in a gross income and a net income
Net income is what you make after deductions such as taxes and insurance, while gross income is what you make before the deductions such as taxes.