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4th Period Personal Fianance
Flash Cards
65
Accounting
10th Grade
02/29/2012

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Cards

Term
Goal
Definition
Something a person intends to acquire, achieve, reach, or accomplish.
Term
Specific
Definition
Exact, clearly defined or explained
Term
Measurable
Definition
A figure that can be objectively assessed---e.g, a measurable cost or time.
Term
Attainable
Definition
Able to be reached---e.g., a budget amount that can be realized.
Term
Realistic
Definition
In keeping with reality, likely to happen.
Term
time-bound
Definition
Containing a date when a goal will be reached
Term
Alternative
Definition
An option or choice
Term
Pro
Definition
A reason in favor of an option; a potential benefit.
Term
Con
Definition
reason in opposition to an option; a potential limitation or weakness.
Term
Impulse
Definition
A whim or sudden desire to do something; acting without thinking.
Term
Habit
Definition
A learned behavior that is repeated over and over, usually without thinking.
Term
Cultural
Definition
Related to the traditions, beliefs, roles, and communication styles of a group
Term
Societal
Definition
Related to all people, collectively
Term
Demographic
Definition
Statistical data about a population.
Term
Economic
Definition
Related to the state of the economy, the financial balance of a population.
Term
Technology
Definition
Products, resources, and systems used for specific purposes.
Term
Media
Definition
Print, sound, and image channels through which information is conveyed
Term
Legal
Definition
Related to the law
Term
Moral
Definition
Related to a sense of right and wrong.
Term
Need
Definition
Something one must have in order to live
Term
Want
Definition
Something one desires to improve quality of living that is not required to live
Term
Value
Definition
A fundamental belief about what is desirable and worthwhile
Term
Standard
Definition
A measure of quality or excellence
Term
Priority
Definition
The relative importance a person places on a value, goal, or alternative.
Term
age
Definition
How old you are.
Term
dependents
Definition
relying on someone or something else for aid, support, etc.
Term
economic outlook
Definition
What is your outlook on the economy.
Term
education level
Definition
The level of education you have learned.
Term
employment status
Definition
Employment discrimination, also known as workplace discrimination
Term
health condition
Definition
Blurred vision is usually a sign of a serious health condition
Term
marital status
Definition
the condition of being married or unmarried.
Term
wealth
Definition
The amount of money you have.
Term
basic wealth protection
Definition
Protection agianst buissness planning.
Term
wealth accumulation
Definition
your monthly salary.
Term
wealth distribution
Definition
comparision of wealth.
Term
beginning family
Definition
a coupke that has just had thier first child.
Term
expanding family
Definition
a family with a large amount of siblings.
Term
parenting family
Definition
a family that loves to have children.
Term
launching family
Definition
a family that is always on the road.
Term
mid-years family
Definition
Family around thier 30's - 40's.
Term
aging family
Definition
when a family is getting older.
Term
variations
Definition
the act, process, or accident of varying in condition, character, or degree: Prices are subject to variation
Term
failure to plan
Definition
Not making shopping lists, spending plans, doing comparison shopping, etc.
Term
failure to protect
Definition
Not securing personal information and property
Term
failure to be informed
Definition
Not reading labels, fine print, contracts, sales offers, etc.
Term
failure to communicate
Definition
Not asking questions, discussing purchases, saying “no” when needed
Term
scam/scheme
Definition
A plot designed to trick someone; a deception
Term
illegal
Definition
Against the law
Term
lie/lying
Definition
To tell an untruth/the habit or practice of telling untruths
Term
concealing information
Definition
Hiding information; hiding the truth
Term
pyramid
Definition
A scam that usually involves a “get rich quick” chain letter, sending money to others in order to, supposedly, receive money in the mail yourself
Term
chain letter
Definition
A letter asking one to send several letters with money in order to, supposedly, receive money in the mail yourself
Term
high-pressure sales approach
Definition
Using extreme tactics to persuade a consumer to buy
Term
vague offers
Definition
Offers that withhold certain details, expecting one to pay up front to get them
Term
sweepstakes letter
Definition
States that one has won a valuable prize, but must pay a fee to claim it
Term
lottery
Definition
Prizes awarded by chance after purchase of a ticket; very small chance of winning
Term
earn-money-at-home offers
Definition
Offers that hinge on a consumer first purchasing something
Term
condition
Definition
A stipulation or prerequisite
Term
winning bid at auctions
Definition
A scam artist my notify you that you have the winning bid, ask for money, but never ship the item purchased
Term
identity theft
Definition
Stealing one’s personal information to commit theft or fraud
Term
media
Definition
Means of communicating---e.g., word of mouth, telephone, texting, emails, etc.
Term
Federal Trade Commission
Definition
FTC; a government agency to assist consumers who’ve been victims of fraud
Term
National Consumers League
Definition
Has a website where incidents of consumer fraud may be reported
Term
Better Business Bureau
Definition
A local consumer protection agency
Term
State Attorney General
Definition
This state office assists consumers who have been victimized by fraud
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