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Economics Flashcards

(55 cards)

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1
Q

APR

A

Annual Percentage Rate
the yearly interest rate that represents the cost of borrowing money

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2
Q

APY

A

Annual Percentage Yield
the interest rate earned on a savings account or CD over a year

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3
Q

BALANCE

A

the amount of funds you have available in a given financial account

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4
Q

BOND (CORPORATE)

A

debt security that a company issues to raise money

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5
Q

BOND (TREASURY)

A

low-risk investment which pays a fixed intrest rate every 6 months untill the bond is mautrued

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6
Q

CAPACITY TO PAY

A

The capacity someone can pay debts, loans ECT.

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7
Q

CAPITAL GAINS

A

The increases in the value of an asset relative to the price that was originally paid for

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8
Q

C.D.S

A

a savings account that holds a fixed amount of money for a fixed period of time

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9
Q

CHARACTER

A

Someones financial history and reputation

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10
Q

CHECKING ACCOUNT (DDA)

A

a financial account that offers easy access and security of your money for daily transactional needs

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11
Q

COLLATERAL

A

an item of value that can be seized from a borrower if they fail to repay a loan

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12
Q

COMPREHENSIVE INSURANCE

A

Pays out if you damage your car, someones else’s car or injure someone in a accident

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13
Q

COLLISION INSURANCE

A

pays the cost of repairing your vehicle if damaged

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14
Q

CO-PAYMENT

A

a fixed amount of money that a patient with health insurance pays for covered health care

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15
Q

CREDIT SCORE

A

a 3 digest number ranging from 850-300 that determines the likelihood you will pay bills on time

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16
Q

CREDIT UNION

A

non-profit financial cooperative that is owned buy its members

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17
Q

COMMERCIAL BANK

A

a financial institution that accepts deposits and offers different banking and financial products.

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18
Q

DEPRECIATION

A

the decline in the economic value of an asset over time

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19
Q

DEBIT CARD

A

a payment card that deducts money directly from your checking account

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20
Q

DEDUCTIBLE

A

an expense that a taxpayer or business can subtract from adjusted gross income

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21
Q

DIVERSIFICATION

A

opening a wide variety of investments

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22
Q

DIVIDENDS

A

a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits

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23
Q

DOW JONES INDUSTRIAL AVERAGE

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A

tracks the performance of 30 major U.S. publicly traded companies and is among the oldest and most widely followed indexes.

24
Q

FAFSA

Study These Flashcards
A

Free Application for Federal Student Aid
college uses your FAFSA data to determine your federal aid eligibility

25
FDIC INSURED
insures deposits in U.S. banks and thrifts in the event of a bank failure or run.
26
GRANTS
a way the government funds your ideas and projects to provide public services and stimulate the economy dose NOT need to be paid back
27
GROSS INCOME
The amount of money you make beofre taxes
28
H.M.O
A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO
29
INSTALLMENT LOANS
personal or commercial loans that borrowers must repay with regularly scheduled payments or installments
30
INVESTMENT
a plan to put money to work today to obtain a greater amount of money in the future
31
INVOICE (FOR A CAR)
what a car manufacturer charges the dealer for the vehicle.
32
I.P.O
the first time that a private company sells shares of its stock to the public on a stock exchange
33
I.R.A
Individual Retirement Accounts Takes money out of your paycheck and is put to your retirement
34
LEASE (FOR APARTMENT)
a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment.
35
MATURITY (OF A BOND)
the date on which the bond issuer pays back everything they owe to bondholders
36
MONEY MARKET ACCOUNT
an interest-bearing deposit account that financial institutions, including banks and credit unions, offer.
37
M.P.G
Miles per gallon
38
M.S.R.P
manufacturer's suggested retail price
39
MUTUAL FUND (INCLUDING INDEX FUND)
let you pool your money with other investors to "mutually" buy stocks, bonds, and other investments
40
NASDAQ
a stock market index that includes almost all stocks listed on the Nasdaq stock exchange.
41
NET MONTHLY INCOME
the amount of money you bring home after taxes and other deductions are taken out of your paycheck.
42
PAR VALUE
the face value of a bond or the value of a stock certificate, as stated in the corporate charter
43
FACE VALUE
the value printed or depicted on a coin, banknote, postage stamp, ticket, etc., especially when less than the actual or intrinsic value.
44
P.P.O
Preferred provider organization A medical plan in which coverage is provided to participants through a network of selected health care providers, such as hospitals and physicians.
45
PREMIUM
an amount to be paid for an insurance policy.
46
PRINCIPAL
scarcity, supply and demand, marginal costs, marginal benefits, and incentives
47
REVOLVING LOAN
a form of credit issued by a financial institution that provides the borrower with the ability to draw down or withdraw, repay, and withdraw again.
48
S & P 500
a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States.
49
SAVING ACCOUNT
allows you to set money aside for short-term savings goals or an emergency fund
50
SECURITY DEPOSIT
equal to a months pay in rent, it is the amount of money you CAN get back when your lease ends if you leave the place well maintained
51
STOCKS
a share in the ownership of a company, including a claim on the company's earnings and assets
52
STOCK SPLIT
a decision by a company's board to increase the number of outstanding shares in the company by issuing new shares to existing shareholders in a set proportion
53
TENANT
The person paying the landlord and occupying the space
54
TUITION
a sum of money charged for teaching or instruction by a school, college, or university.
55
ROOM AND BOARD
the student housing accompanied by a meal plan. The largest amount you pay for school

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