Econ Unit 1 + Unit 2 Econ

What does it mean to diversify your stock investments?

This is the most common type of economy in the world

Having good credit is essential for taking out loans and investments

What does 'interest' refer to when talking about loans?

What is the role of capital in the production process?

When deciding on a change you must consider the____________ of the situation

The process of changing business control from the government to citizens

When you're renting, a good rule of thumb is to have one paycheck cover the rent payment

Car insurance policies renew every 6 months

A service/good's utility defines how useful it is

________________ allows for your paychecks to be immediately put into your bank account on pay day

How do services differ from goods in terms of their nature?

Which of the following best describes a market economy?

What is one benefit of renting a home compared to buying?

What is a common source of financial aid provided by colleges based on academic merit?

What is a credit score?

What is one key advantage of investing in stocks compared to savings accounts?

Which of the following statements correctly describes non-durable goods?

What does Personal Injury Protection (PIP) cover?

Division of labor breaks down a single task into multiple parts

Human capital is The sum of a person's

What is a key characteristic of a command economy?

What type of risk arises from a specific company or industry affecting its stock?

An account where you keep money for emergencies and it grows slowly over time

What is a stock dividend?

What type of financial aid does not need to be repaid?

Normal IRAs and Roth IRAs help people prepare for

What is a significant commitment involved in buying a home?

What is the primary purpose of the Free Application for Federal Student Aid (FAFSA)?

A deductible is

Which of the following costs is typically NOT included in the tuition and fees of a college?

Which type of risk is associated with the overall market movement affecting all investments?

Which of the following statements about mixed economies is accurate?

A mortgage is a

The main issue economies have to deal with is

Which of the following is an example of a capital good?

Which factor of production encompasses all natural resources used in production?

Which of the following best describes the four main factors of production?

Which of the following statements correctly describes durable goods?

Costs that you do not pay to the college but still have to consider are

What is a key advantage of a Roth IRA compared to a traditional IRA?

What is the purpose of a budget?

In stocks there is high return potential but also high risk potential

A want is a basic requirement for survival

What is the primary reason that scarcity exists in economics?

The main cost of college is

When companies assign people specific tasks they become

How do consumer goods differ from capital goods?

Stocks are ways people can have ownership of a company

In which scenario would uninsured motorist coverage be beneficial?

Which of the following best describes goods in economics?

A premium is

Higher education levels translates to higher wages

In what way do entrepreneurs contribute to economic growth?

Which of the following is an example of a consumer good?

In Capitalism the government owns the factors of production