Financial Fitness Ch. 1

A system by which goods and services are produced and distributed.

Learning the language of money is not that important because others can manage your money.

Which of the following is NOT a reason credit is marketed so heavily to consumers in the U.S.

A debt evidenced by a note which specifies the principal amount and rate and date of repayment

A fee paid by the borrower to the lender for the use of borrowed money.

All of the decisions and activities of an individual or family regarding money.

An obligation of repayment owned by one party to the second.

The granting of a loan and the creation of debt, any form of deferred payment.

When it comes to managing money, success is about ____% head knowledge and ____% behavior.

The knowledge and skillset necessary to manage finances effectively.

A person or organization who uses goods or services

After the Great Depression new lending policies convinced commercial banks that: