Chapter 4
What is The Second Foundation?
Get out of debt and stay out of debt
When someone steals and uses your debit or credit card info, that's called
Fraud
Economics is a study of consumer _______
Choices
Which is an example of an appreciating asset?
A home
True or False: Companies use marketing to get your prefrontal cortex offline so you'll be vulnerable to impulse purchases.
True!
What is Economic interdependence?
Describes how many countries and companies around the world depend upon each other
The debt snowball method involves
Paying off debts from smallest to largest
Why does brand recognition help businesses?
It makes their name and logo easily memorable for consumers.
The total value of all the finished goods and services produced in a country for a specific period of time is called
GDP
Something that credit card commercials don't show you is
People making payments for months or years on those credit card purchases
What three questions is the brain always asking?
Am I safe? Do I belong? Does this feel good?
_____________is the science of the whole economy, while _____________is the study of people, individual businesses, or markets.
Macroeconomics; microeconomics
True or False: Loans that directly help you advance in life, such as student loans, are acceptable debts.
False!!!!!!!!
Since marketers have sophisticated technology and plans to get your money, what can you do to make sure you don’t fall into their trap?
Be aware of when and where you’re being marketed to.
An extreme result of free-market capitalism without government regulation is referred to as __________
Monopoly