Supply & Demand
What is the Law of Demand?
This law states that when prices go up, quantity demanded goes down.
What is a credit history?
This is your record of how you’ve managed borrowed money.
What is a stock?
This investment represents ownership in a company.
What is a checking account?
This type of account is best for everyday spending.
What is inflation?
A general rise in prices over time is called this.
What is the Law of Supply?
When producers are willing to sell more at higher prices, this law is being shown.
What is Experian? (Also accept Equifax or TransUnion)
The three major credit bureaus in the U.S. include this one.
What is a bond?
This investment is essentially a loan you give to a company or government.
What is a savings account?
This account usually earns more interest but limits withdrawals.
What is a recession?
When a country’s economy shrinks for two consecutive quarters, it is called this.
What is equilibrium?
The point where quantity supplied equals quantity demanded is called this.
What is payment history?
This makes up the largest percentage of your credit score.
What is diversification?
Spreading your money across different investments is called this.
What is the FDIC?
Money protected by this government agency is insured up to $250,000.
What is GDP (Gross Domestic Product)?
The total value of goods and services produced in a country is called this.
What is a determinant (of supply or demand)?
A factor like weather, income, or trends that shifts a curve is called this.
What is interest?
When you only pay the minimum balance, you pay more of this over time.
What is the Dow Jones Industrial Average?
This famous average tracks 30 large U.S. companies.
What is an overdraft fee?
This is the fee charged for spending more money than you have.
What is the unemployment rate?
This measures the percentage of people actively looking for work who cannot find a job.
What are complementary goods?
If the price of gas rises and people buy fewer SUVs, this relationship between goods is shown.
What is debt-to-income ratio?
This ratio compares how much debt you have to how much income you earn.
What is compound interest?
When your money earns money and then that money earns more money, it’s called this.
What is a bank statement?
This document shows all transactions in your account for a certain period.
What is the Federal Reserve?
This institution controls monetary policy in the United States.