Economic Reasoning
Definition: Something you would like to have, but don't need for survival
Want
Definition: The income you receive BEFORE taxes and other deductions are taken out
Gross income
What does APR stand for?
Annual Percentage Rate
If an interest is compounded quarterly, how many times a year is that?
4 times a year
This movie is the highest grossing Marvel movie of all time
Avengers: Endgame
Definition: Work or labor performed for someone
Service
Definition: The actual income you receive AFTER all taxes and deductions are taken out
Net income
Fill in the blank: The lower your credit score, the ____________ (higher/lower) your interest rate
higher
How much is interest is compounded for a savings account that has a yearly interest rate of 12%, compounded monthly?
1%
Who is the Guardian of the Soul Stone revealed in Endgame?
Red Skull
Tools, machines, factories: These all represent which factor of production?
Capital
Fill in the blank for how to budget
Step 1: Calculate your monthly net income
Step 2: ___________________________
Step 3: Subtract 2 from 3
Calculate your bills/expenses
Lower interest rates means you pay _______________ (more/less) over time
Savings accounts are able to grow money over time because of ______
Interest
This is the name of the celestial that rises out of the ocean in Eternals
Tiamut
This person represent the entrepreneurship factor of production for the company Amazon
Jeff Bezos
Approximately what percentage of your monthly budget should be allocated for housing?
No more than 35% of your monthly net income
Which of the following is NOT a factor that affects your credit score?
-Paying bills on time
-Debt to income ratio
-Parent's credit history
-Credit utilization rate
Parent's credit history
A non-interest bearing account has an interest rate of?
0%
Name all 6 Infinity Stones
Time, Soul, Reality, Space, Power, Mind
List all 4 factors of production in alphabetical order
Capital
Entrepreneurship
Labor
Land
Fill in the blank: __________ help people manage their unlimited wants and limited resources
Budgets
Definition: A box containing easy to read financial information for all loan and credit issuers, required by the US government.
Schumer box
Which financial investment has the highest risk, but also the highest potential reward?
Stocks/mutual funds