Market Basics
Inflated egos
Tax talk
Don't blow the budget
Invest in me!
Give me some credit
100
In a market economy, prices are set by what?
Supply and demand
100
Inflation means ______ goes up over time?
prices
100
What kind of tax gets taken out of your paycheck?
Income tax
100
What software would you use to make a traditional budget?
Xcel, Google sheets, Quickbooks
100
Why is investing risky?
You can lose money if they do poorly
100
What is the difference between a credit card and debit card?
Credit cards charge on credit, debit cards charge from money you already have
200
If demand rises, prices will
rise
200
During a period of inflation, the value of money goes...
down
200
What type of tax is different in different states, with 5 states not having any at all?
Sales tax
200
Jayla struggles with impulse buying. What budget method should she use?
Two-week wait rule
200
What is the safest form of investment?
a high-yield savings account
200
What is a good credit score?
700-800
300
Where the supply line and demand lines intersect, you get will find what?
Market price
300
What causes inflation? (at least 2 ways)
Too much money in the economy
High demand for products and services
Rising costs for businesses
Supply shortages of important items
Higher wages leading to higher prices
300
What type of tax funds public schools?
Property tax
300
How much of every paycheck should you save?
20-30%
300
Why is it important to invest early?
Let money grow longer
300
What is usually people's first line of credit?
Either a student loan or credit card
400
What does this image represent?
A rise in demand (and therefore a rise in price)
400
What usually causes a recession?
A shock in the system
400
Disability insurance, social security, and unemployment are all examples of what?
A public safety net
400
What do you need to save for?
Expected and unexpected expenses
400
What makes real estate a different investment from most other investments?
You have the benefits of living in the house while it gains value
400
Why do you want higher credit?
Better lending rates, won't be turned away from renting or jobs
500
If BOTH the supply AND demand rise, what will happen to the price?
It will stay the same
500
What are the 3 steps of the recessionary cycle?
(in any order) People spend less -> businesses struggle->people pay their workers less
500
A regressive tax charges everyone the same rate. What is the name of a tax where those who earn more are charged a higher percentage?
Progressive tax
500
What is the best budget?
A budget you can follow
500
How do bonds work?
Loan money to the government or a company
500
What is a home loan called?
a mortgage