Financial Literacy Final Exam

What percentage of American's have some sort of debt

A zero based budget is when a monthly budget and income = zero (every dollar is accounted for)

______ is when companies pay to have products featured in movies and television programs.

An investor is A person who gives money to any of the above in return for a share of the company.

Marketing is everything a company does to get consumers to buy their product

Fraud is legal

A withdrawal is when you add money to your bank account

Insurance is not paid every month

_________________ consumers continue buying the same brand of goods rather than competing brands.

People need this information in order to steal your personal identity

What is NOT an example of the Benefits of Competition.

Gambling only impacts those with the addiction

the 18-to-29 age group accounted for 34% of that debt, according to the Department of Education.

What Factor does not affect the amount of demand of a product?

What is not a common store/ company incentive?

Credit is An obligation to repay borrowed money

Weather can impact the amount of supply

Income is any money a person that is coming into their bank account.

____________________ economy that combines characteristics of market, command and traditional economies.

Trade Schools or alternate methods of education will not allow you the opportunity to make money

A Non-profit organization federally recognized, tax-exempt organization such as a church, school

A Deductible is the amount you must pay before you receive any benefits from your insurance coverage

A Budget is Not

Price is the cost of goods and services

Take Home Pay can also be called Net Expense

______________ economy is a system- laws of supply and demand direct the production of goods/services.

Interest is Not

When investing, it is good to have a diversified portfolio so all of your money is in one account

Student Loan Debt is an expected part of going to college

_______________ economy is a system that relies on customs, history, and time-honored beliefs