mason.harris-ch1

saving is a factor that can impact an individual's future

opportunity cost value of the tradeoff

interest is also a feeling of wanting about a topic or be involved in an activity

recessions make managing personal finances important and challenging

an example of a factor that should be taken into consideration when making a financial plan is income

globalization does not affect the average worker

recources are managable

flexibility is key characteristic in reaching goals

recession is a period of slow or low economic growth.

Entitlement is a government program that provides financial benefits to some citizens.

interest is a strategy that people apply when making financial decisions

demographics will affect the way you manage your money

when economy is good morale is low

priorities are set by ordering goals from least to most important

one type of goal is a to do goal

trade-off is one of the three stages of management

trade off the choice you lose when you make a decision

media can impact financial decisions

Globalization is the spread of and integration of production, technology, etc

PIM is a system that individuals use to maintain organize retrieve and use info

people in your life is an example of resources

interest amount that is paid for using money

economic conditions can change your goals over time

cheating on an exam is ethical behavior

technology doesn't impact your finances.

one example of positive ethical behavior is not over-pressuring people

evaluation is the last step in systematic decision-making

FDIC is not an entitlement program

state of the economy is economic condition

priorities direct time, energy, and money into your goals.

marginal cost change in total cost of one additional unit

by instinct is one way people make a decision without a plan

culture is beliefs, behaviors, and other characteristics common among a group or a society.

human and non-human are two types of resources that can be used to meet goals.

inflation is when prices go up