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Insurance
Charity
Comparison Shopping
Goals
?????
100
A contract that covers items or people which guarantees payment if an insured loss occurs is the definition for what vocabulary word?
insurance
100
What is one type of charity that we discussed?
Money, Time or In-kind
100
The price per unit of an item purchased is called what?
Unit Price
100
Something that you want to achieve in a certain amount of time is called a what?
A goal
100
It is possible to have more than one opportunity cost. True or False?
False
200
Which type of insurance is required for you to have?
Car insurance
200
The voluntary giving of money, materials, or help to people in need is called what?
Charity
200
Examining similar products, taking note of similarities and differences in order to decide which brand or variety to buy is called what?
Comparison Shopping
200
Susie is saving up to buy some new clothes in 6 weeks. This is what type of goal?
Short-term
200
Steve passing the ball to someone else to take a game winning shot is an example of what kind of risk?
Transferring Risk
300
The amount of money you pay in exchange for insurance is known as what?
A premium
300
Volunteering at Habitat for Humanity is an example of what kind of charity?
Time
300
A good or service given up in order to take the next best choice is called a what?
Opportunity Cost
300
Saving up for 4 years to buy a new car is what type of goal?
Long-term
300
A request by the policy holder for a payment following an accident is called a what?
Claim
400
The amount of money you agree to pay when there is a loss
A deductible
400
Giving a monetary donation to Hope Harbor is what kind of charity?
Money
400
John's family is going to Omaha to watch a basketball game. That same time there is a football game that John really wants to go watch with his friends. What is John's opportunity cost if he decides to go watch the football game with his friends?
Going to the basketball game in Omaha with his family
400
Which of the following is the an example of a medium-term goal? A. saving $40 for 1 month to buy new clothes B. Saving $150 for 4 months to buy a new bike C. Saving money for 5 years to buy a new house
B. Saving $150 for 4 months to buy a new bike
400
Individuals can avoid all risks in life. True or False?
False
500
Purchasing insurance is managing risk in which way? (Avoid, Retain, Share, Reduce)
Share
500
Donating blood for the Red Cross is what type of charity?
In-Kind
500
Determine is the unit price. Bottle of Ketchup $3.78 52 oz.
$0.07 per oz
500
Give different examples of items or events that would be each a short, medium, and long term goals. (1 for each type of goal)
500
Find the unit price of the following item: Orange Juice 64 oz. 6.14
$0.10