Fiscal/ Monetary Policy
Entity that controls monetary policy (printing money/ interest rates).
Central Bank (The Fed)
Govt controls all modes of production, distribution, etc.
Command Economy (Communism)
The growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Globalization
the value of the assets a person or corporation owns, minus the liabilities they owe
Net Worth
These can often have annual fees, bonus offers, reward points
Credit cards
Entity that controls fiscal policy (taxes, spending)
Govt allows consumers/ businesses to make decisions.
Market Economy
the process wherein a company or individual decides to focus their labor on a specific type of production
Specialization
anything owned that has monetary value
asset
Essential way to keep down credit card debt.
Pay off each month.
Raise interest rates. (slow down spending > increase supply > lower prices > lower inflation)
Examples of these are environmental laws, FDA rules, taxes, limitations on various aspects of how a business can operate.
Government Regulations.
the purchase and sale of goods and services by companies in different countries
Trade
obligations that deplete resources, such as loans, accounts payable (AP), and mortgages.
Liability
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Interest
Can provide stimulus checks. Govt or Fed?
Government.
A type of economy that has aspect of both command and market economies.
Mixed economy.
A product that is sold to the global market
Export
One way to invest in yourself.
specialized training, education
The way to avoid added interest on credit cards
Every month when you get the bill, pay off the entire thing immediately.
Can print money. Govt or Fed?
A person in Govt working for a special interest that seeks to influence (a politician or public official) on an issue.
Lobbyist.
a product that is bought from the global market
Import
a document that details a person’s current financial circumstances and their short- and long-term monetary goals
Financial Plan
The amount of $$ you should have in your savings.
You should have @ least 3 months pay/expenses in your savings account