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| This is the point where Demand and Supply are equal. |
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| The social science that deals with the production, distribution, & consumption of goods and services and with the theory and management of economics or economic systems. |
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| This is the difference between the cost of creating a product and the income received from selling it. |
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| The value of the next best alternative that is given up when a choice is made. |
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| This Consumer Protection Agency is concerned with food safety and labeling of meat, poultry and egg products |
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Definition
| U.S. Department of Agriculture (USDA) |
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Term
| This is a face-to-face meeting with a potential employer to discuss your job qualifications |
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| This is a letter of introduction sent with your resume to a potential employer |
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| This is the process of terminating employees to cut expenses |
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| Although you may not have experience in the job you are interviewing, you may have these types of skills from your old job that will be useful in your new one |
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| If you lose your job, you may still be given this is a sum of money |
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| This is a non-profit, cooperative financial institution owned and controlled by the people who use its services |
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Term
| A document in which the signer authorizes someone to conduct business in his or her name |
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| An agency that manages bank insurance funds, which insure deposits at banks and other qualifying financial institutions up to $250,000 |
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Term
| The time your 500 dollars will double is 8 years at this percent interest. |
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| A document indicating ownership or creditorship; a stock certificate or bond |
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Term
| This occurs when a security is borrowed and sold, expecting that it will decrease in value so it can be bought back at a lower price. |
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Definition
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Term
| These are the two largest stock exchanges in the U.S.A. |
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Definition
1. NYSE (New York Stock Exchange)
2. AMEX (American Stock Exchange) |
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Term
| These are the three ways of buying stock |
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Definition
| 1. Use a stock broker 2. Directly through a company (401K Plans) 3. Online. |
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Term
| These are the three types of annuities |
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Definition
1. Fixed
2. Variable
3. Equity-indexed annuities |
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Term
| This is an advantage of Savings Accounts |
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Definition
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Term
| This type of advertising is an innocent exaggeration. |
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Term
| “Why are you leaving your current job?” is this type of question. |
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Term
| This is the regret of buying an item. |
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Term
| This is the act that requires that a free account has no minimum balance requirement and no maintenance or activity fees. |
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Definition
| The Federal Truth in Savings Act |
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Term
| He was given the Noble prize for Economics for his theory of Diversification. |
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Definition
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Term
| Five Components to economics |
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Definition
| Supply, Consumer Demand, ability to produce, product, price, transportation |
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Term
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Definition
Use due to limited resources and unlimited
Consumer wants are greater than the resources available to satisfy them |
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Term
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Definition
| Creation of goods or services |
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Term
| Four Factors of Production |
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Definition
| Land, Labor, Capital, Entrepreneurs |
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Term
| Consumer Decision making process |
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Definition
1. Identify want/need
2. Identify Alternatives
3. Evaluate Alternatives
4. Select
5. Post Evaluation |
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Definition
| Make stuff to sustain life |
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Term
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Definition
Government has TOTAL control
(Ex: Communism) |
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Term
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Definition
| Free or Capitalist economy |
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Term
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Definition
| An economic system combining private and public enterprise. (Ex: U.S.) |
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Definition
| how much producers are willing and able to produce at any given price |
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Term
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Definition
| How much consumers are willing and able to buy at various prices |
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Term
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Definition
| Right to be informed and right to safety |
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Term
| Five Components of a Resume |
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Definition
1. Name and Contact info
2. Education
3. Objectives
4. Math Skills
5. Activities
"sell yourself" |
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Term
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Definition
1. Pay Yourself (10% of income)
2. Start Now |
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Term
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Definition
| how long it takes for our money to double |
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Term
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Definition
| Banks can scan images of checks - immediately sent image to transact quickly |
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Term
| Name three tips of wise checking |
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Definition
Overdraft protection/don't overdraft
No minimum balance
Keep track of your purchases
Don't spend more than you have |
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Term
| Avg Overdraft (insufficient funds) fee |
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Definition
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Term
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Definition
| Stocks, bonds, mutual funds, EFT's, Government Securities, Commodities, Real Estate, CD's, etc. |
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Term
| What do Investors look for? |
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Definition
-Returns
-Dividends and interest
-tax advantages
-Capital Gain |
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Term
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Definition
| the degree to which an investment rises and falls |
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Definition
| Systematically investing an amount at regular intervals to reduce price swings |
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Definition
| Well balanced, right mix of characteristic investments for you |
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Term
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| no specific location, many technology and growth companies |
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Term
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Definition
| Securities and Exchange Comitee |
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Term
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Definition
-Company's health
-Industry trends
-National and World events
-Economic factors (interest rates) |
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Term
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Definition
S&P 500
Nasdaq composite
Dow Jones Industrial Avg. |
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Term
| A financial method of transferring your risk of loss to an insurance company |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
| A financial method of transferring your risk of loss to an insurance company |
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Definition
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Term
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Term
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Definition
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Term
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Definition
| Single, married, married (jointly), widowed |
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Definition
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Term
| Illinois State Income Tax |
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