Consumer Education Chapter 1

When it comes to managing money, success is about ___% knowledge and ___% behavior

All of the decisions and activities of an individual or family regarding their money, including spending and saving

A person or organization that buys/uses goods or services

Learning the language of money is not that important because you'll be able to depend on financial planners to manage

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

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

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

A system by which goods and services are produced and distributed

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

The knowledge and skill set necessary to be an informed consumer and manage finances effectively

An obligation of repayment owed by one party (borrower) to a second party (creditor)

During the Great Depression, New Deal policy makers came up with lending practices to convince banks that...