budgeting can create wealth, the amount of money you are willing to spend for something (a limit)

any items of value that an individual or company owns

What are SMART goals?

Specific, Measurable, Achievable, Realistic, Time-bound

What is a durable good?

a good that is meant to be used by the buyer for a long period of time

the amount of goods and services available for sale

What is the Federal Reserve System?

A system that stabilizes prices, promotes work, interest rates, prints $$

What is a direct deposit?

When your employers send your paycheck directly to the bank

What is the common stock?

Common stock is a share but a company that can be bought any person

What is a mutual fund?

funds that help individuals pool their money with others to invest, a part of the investment pyramid

What is a bank statement?

A record of your spending through your bank account, expenses made by you in the past month

What are the 5 Cs of Credit?

Character, Capacity, Conditions, Collateral, Capital

made up of 4 categories, An abundance of valuable material possessions or resources

What is a credit score?

A credit score is a measure of your financial responsibility

protection against possible financial loss through a contract called policy, protects against hazards, it covers physical damage that your car sustains in a accident

the amount of goods and services people are willing to buy

an asset/form of investment, a loan to an entity which will be paid back sometime in the future

What is personal financial planning?

Arranging to spend, save, and invest money in order to be able to live

The study of the decisions that go into making, distributing, and using

A small paper/document that is given to someone as permission to withdraw $

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Economics Final Review Quiz - 9th Grade

30 termsStudBud Administration

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Questions 30

Answers

1
Payments reduce the balance of checking accounts
True
False
2
APR is a myth
False
True
3
A want is not a desire or preference
False
True
4
What is a budget?
the amount of money you keep after lol your bills are paid
budgeting can create wealth
the amount of money you are willing to spend for something (a limit)
the same thing as an asset
5
What is an asset?
it is the same thing as a net worth
any items of value that an individual or company owns
spending all your money on a ”supreme brick”
the 5 Cs of credit
6
Savings are different from checking
True
False
7
What are SMART goals?
Special, Majestic, Angry, Realistic, Time-Bound
The study of the decisions that go into making, distributing, and using
Specific, Measurable, Achievable, Realistic, Time-bound
High IQ stuff
8
What is a durable good?
something super hard
stabilized prices
a good that is meant to be used by the buyer for a long period of time
the extra percent of money of the price that is paid for the use of other $
9
What is supply?
expenses made by you in the passed month
the amount of money you are willing to spend for something
the amount of goods and services available for sale
a small document that states how much money you have
10
A hazard is something that is poses as a risk in a situation
False
True
11
What is the Federal Reserve System?
A personal financial statement system made by the government
they stop alien invasions !!!!!
a small, secure storage compart that you can rent in banks
A system that stabilizes prices, promotes work, interest rates, prints $$
12
What is a direct deposit?
Payments, purchases, sales, receipts
When your employers send your paycheck directly to the bank
the yearly cost of undos over a term of the loan or income earned on invest
an amount of money give to the loaner as security in case loan isn’t paid
13
APR stands for the ”annual percentage rate”
True
False
14
What is the common stock?
an amount of money given to the loaner as security in case the loan not $
a loan to an entity which will be payed back in the future
stockings near the christmas tree
Common stock is a share but a company that can be bought any person
15
What is a mutual fund?
insurance for sone one who rents their home rather than owning it
funds that help individuals pool their money with others to invest
a part of the investment pyramid
a type of stock
16
What is a bank statement?
Another word for common banking fees
a small document which records the deposits you made into your account
A record of your spending through your bank account
expenses made by you in the past month
17
What are the 5 Cs of Credit?
controls the real estate market
Character, Capacity, Conditions, Collateral, Capital
just some video games
Carl, Cathy, Chris, Candice, Courtney
18
What is wealth?
made up of 4 categories
the financial situation that occurs when more money is spent then earned
An abundance of valuable material possessions or resources
Elon musk
19
Goals are things that you want to accomplish in a certain amount of time
True
False
20
There are 2 Cs of credit
False
True
21
What is a credit score?
the score you get from the SAT
A credit score is a measure of your financial responsibility
a bond is a loan to an entity which will be paid back sometime in future
longer loans with lower monthly payments
22
Collision insurance covers medical emergencies
False
True
23
What is insurance?
the same as a deductible
protection against possible financial loss through a contract called policy
protects against hazards
it covers physical damage that your car sustains in a accident
24
What is demand?
the difference between the amount that you own and the debts you owe
the amount of money you keep after all bills are payed
the amount of goods and services people are willing to buy
a financial state that occurs if liabilities are greater than assets
25
What is a bond?
a person or company that owes a sum of money
an asset/form of investment
the same thing as stock
a loan to an entity which will be paid back sometime in the future
26
There are 4 risk management methods
True
False
27
There are no benefits to online banking
True
False
28
What is personal financial planning?
Talking to your friends about how much money you make too flex
Something necessary for survival
Arranging to spend, save, and invest money in order to be able to live
When you must give up one choice for another
29
What is economics?
A rise in the level of prices for goods and services
The study of the decisions that go into making, distributing, and using
the study of banks
watching a movie instead of reading, driving a car and running
30
What is a check?
the abstaining from acknowledgment of an idea or an event
the same as a deposit slip
A small paper/document that is given to someone as permission to withdraw $
when a sum of money is compounded over time

Economics Final Review Quiz - 9th Grade Flashcards | StudBud