Functions of Money
This card allows you to purchase things with money directly from your account
What is a Debit Card?
This retirement plan is done through your employer and funded through an employee, which you can choose either a lump sum or regular payments
This account, which is the most common types of accounts, holds money through a bank, with a small starting deposit, and very low risk
What is a savings account?
What is a stock?
This core problem in economics, where individuals must struggle between unlimited wants and limited resources is called
What is Scarcity?
This card allows you to make purchases with money borrowed from a bank, that you pay back at a later time
What is a Credit Card?
This type of retirement plan, often offered through a nonprofit organization, offers a pre-tax investment and limited contributions
What is a 403B?
This type of account, which features limited transaction with a higher limit on minimum account balance, can be used as a check or savings account
What is a Money Market Account
Stock prices are normally determined with ___
What is Supply and Demand?
This type of economic system is the most common economic system seen in today's world
What is a Market System?
This type of money is the most common type of money today, with a value assigned by the government
What is Fiat Money?
This type of retirement plan is set up and funded by you and you alone, and has a maximum amount of $6,000 a year
what is an Individual Retirement Plan or IRA?
This type of bond, has a timed deposit, and you must pay half of the full value upfront, and receive the other half after a set period of time
What is a US Savings Bond?
This stock index tracks 30 of the largest US companies, which is often seen to represent the US economic and market health
What is the Dow Jones?
This type of market occurrence is when one or two companies hold the majority in the market, whom are price makers and have high entry barriers for any other interested companies.
What is a monopoly?
This type of money, common in ancient times, used items that had value in itself for currency. A few examples are Gold, Silver, Seashells, or Tobacco
What is Commodity Money?
This type of retirement plan is set up and funded by your employer. It is often seeing in professions like Teaching. Utilities, and state/local governments.
What is a Pension?
This type of account features different lengths of time for its investment with varying interest rates, however it has a higher minimum deposit fee than most other savings accounts
What is a Certificate of Deposit or CD account?
This is seen as a sustained period of rising prices throughout a market.
What is a Bull Market?
This type of statement are statements that cannot be tested and are opinions.
What is a normative statement?
The Federal reserve system splits our country into __ districts, which requires banks to use _____ ____ ___ to hold a fraction on of a deposit but can loan out the rest
What is 12 districts, and Fractional Reserve Banking?
The three parts of a full retirement plan is
What is Social Security, Workplace plan, and a Personal Plan
This relationship, covered throughout this unit, entails a higher ____ for a higher ___
What is higher risk higher reward
This is a way to make money off of stocks, where you take a share of the companies profits and pocket it
What is a dividend?
The difference between Quantity supplied and Supply is___
What is a change in price along the supply line, Vs a change in the supply graph in total