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What term describes when one company is the only provider of a good and they have total control?
Monopoly
below equilibrium
What is the highest point in the business cycle called?
Peak
____________ ________ is a term used to describe an option you miss out on when you choose a different option.
Opportunity Cost
What term describes the fact that there aren't enough resources for everyone?
Resources are ____________
Scarce / Scarcity
Name 1 pro and 1 con of owning a home.
Pros: ownership, building equity, can modify
Cons: repairs, long process to move, taxes, long loan.
What were Mr. Bowler's high school colors?
A. Red and Blue
B. White and Green
C. Orange and Black
D. Purple and Gold
C. Orange and Black
Which investment option is more risky, stock or bond?
Stock
What can I buy that gives me a small piece of ownership in a company?
Stock
How does the progressive tax system work in the US?
More you make, more you pay
What type of scam involves a super realistic link in an email to try and trick you into entering personal information?
Phishing
Which console did Mr. Bowler play in 2009?
A. Playstation 3
B. Xbox 360
C. Wii
B. Xbox 360
When demand shifts to the right, what happens to equilibrium price?
Increase or Decrease
What type of tax do I pay on my house and car?
Property tax
What does YTD stand for on a Paystub?
Year to Date
Explain how I could use my credit card and avoid the interest.
A. Golf
B. Soccer
C. Football
D. Cheer
A. Golf
What form do you get from your employer to use when filing your taxes?
W2
What are the 4 factors of production?
Land, Labor, Capital, Entrepreneurship
What is the purpose of a credit score?
It's a number that dictates how well you borrow money and pay it back.
Debt snowball feels more rewarding in the beginning and is easier to stick with.
What restaurant did I work at before teaching?
Olive Garden
Explain why payday loans are usually a bad option.
Extremely high interest rate.
Name 2 ways to make money with stocks.
1. Stock goes up in value then sell
2. Dividend payments