Decisions
Investing
Banking
Economics
Insurance
100

Benefits that can be quantified are ___________.

explicit benefits
100
Part ownership of a company is a _____________.

stock

100

This is the program that insures bank and credit union accounts

FDIC 

100

What is the study of economics on a large scale, like a nation or the world? 

macroeconomics

100

The amount paid to continue insurance coverage.

premium

200

Costs that can not be quantified are _____________.

implicit costs 
200
The investment where people pool their money with other like-minded individuals. 

mutual funds 

200

Moving money from your savings account to your checking account

transfer

200

anything useful

resource

200

The amount paid on a claim before the insurance covers their part.

deductible

300

The cost of what you choose to do and the next best thing are called ______________________.

opportunity costs. 

300
Purchasing a loan from the government or company is called a ______________. 

bond

300

Spending more money that you have is called _________. There is often a fee when this happens.

overdraft 

300

Physical objects that are produced.

goods

300

The maximum amount an insurance company is willing to pay out. 

policy limit 

400

Saving 10% of from all earnings falls under this inner value.

financial value

400

The collection of your investments is called your ________________.

investment portfolio

400

POS

Point of sale 
400

As things are priced higher more things are produced.

Law of supply

400
For auto insurance, what is the minimum insurance required by law? 

liability insurance 

500

Buying a toy because your friend has one too is an example of this inner value. 

Social value

500

The likelihood of losing money is called _________. 

risk.

500

The best way to pay for college is a ___________.

scholarship

500

Buying the off brand option to save money is called __________________.

substitution effect

500

Cinderella only has liability insurance on her pumpkinmobile.  Her deductible is $500.  She is found liable for the $20,000 carriage that she ran into.  Her limit is $25,000.  How much does Cinderella have to pay? How much does her insurance have to pay? 

Cinderella calls on her fairy godmother to take care of the whole thing and doesn't have to pay anything. 

JK. Cinderella has to pay $500 and the insurance company pays $19,500