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Chapter 6 Vocab
N/A
20
Economics
12th Grade
03/27/2014

Additional Economics Flashcards

 


 

Cards

Term
Income
Definition
Money earned by individuals and companies
Term
Consumer
Definition
Anyone who buys goods or services for personal use
Term

Balanced Budget

Definition
Income and expenditures are equal
Term

Deficit

Definition
Expenditures exceeds income
Term

Surplus

Definition
Income exceeds expenditures
Term

Stock

Definition
Number of shares in the ownership of a corporation
Term

Principal

Definition
- amount borrowed
Term

Finance charge

Definition
total amount you pay to use credit
Term

Co-signor

Definition
person with an acceptable credit rating who agrees to pay loan if you don’t
Term

Premium

Definition
price people pay for insurance
Term

Budget

Definition
financial plan summarizing income and expenditures
Term

Compound Interest

Definition
computed on both the amount saved and previously paid interest
Term

Insurance

Definition
financial protection against the risks of injury, illness, death, fire and other misfortunes
Term

Liquidity

Definition
The ease of turning savings and other investments to cash
Term

Expenditures

Definition
Money spent
Term

Financial Goals

Definition
a budget will help you achieve them
Term

APR

Definition
annual interest rate charged for a load
Term

Slogans

Definition
words and phrases used in advertising that sound great but mean little or nothing
Term

Safety and Choice

Definition
key ideas from consumers’ bill of rights
Term

Good Credit

Definition
you will need this if you want to buy now and pay later
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