Budget
What are some examples of a Variable Expense??
Utilities, Groceries, Entertainment
What is a Sales Tax??
A tax on Goods and Services
What is needed to complete the FAFSA form??
Social security number
Tax return
Bank Statements
Alien registration number
What is Price Floor and what is the outcome?
On TOP of the graph and a SURPLUS of goods
If Product Differentiation varies...... what is that called?
Oligopoly
What are some examples of a Fixed Expense???
Rent, Car insurance, Phone Bill
What is an Estate Tax??
Property you inherited from a died relative
What are some things to be successful in the work place??
Punctuality
Communication
Problem solver
Work ethics
What is Price Ceiling and what is the outcome?
On the BOTTOM of the graph and a SHORTAGE of goods
If Product Differentiation is similar...... what is that called?
Monopolistic
What does saving, budgeting, investing led too?
Generational Wealth
What is Net pay??
The amount of money an employee receives after deductions
What are some examples things you can do after high school??
School
Military
Work
What is a quota in Economics Terms?? What type of outcome can happen?
Restriction on the number or value of goods that can be imported or exported
Increasing the cost of goods
What business organization includes one individual a solo entrepreneur??
Sole Proprietorship
Federal Insurance Contribution Act (FICA) includes what two things?
Social Security and Medicare Tax
What is Gross Pay??
The total amount of money an employee earns before taxes and deductions
What did I say about Social Media??
Be cautious about what you post (positives/negatives)
You could get fired....colleges could reject your application
What is the definition of Rational Decision making?
Marginal benefits exceed marginal costs
What is it called to measure an Inflationary Period?
Consumer Price Index(CPI)
What is the definition of Net Worth??
Assets minus liabilities
Progressive
Regressive
Proportional
Targets the Rich
Targets the Poor
Everyone pays the same
What does your taxes go towards the most in the government?
SCHOOLS...
Monetary Policy is what??
Fiscal Policy is what??
Money Supply and Interest Rates
Government spending and Taxation
What is opportunity Cost??