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Economics: Final > !FINAL! > Flashcards

!FINAL! Flashcards

1
Q

Irresponsible spending, pretending to be rich

A

Visa Gold Card Mentality

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2
Q

Deep debt accepted as the norm

A

Debt Culture

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3
Q

Funds running out

A

Social security act 1935

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4
Q

Unprepared for retirement

A

baby boomers

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5
Q

baby step #3

A

build wealth

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6
Q

safe, long term investing

A

mutual fund

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7
Q

income designated is often matched by employer

A

401 K

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8
Q

$1000-

A

Emergency fund

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9
Q

self control gives us our goals

A

sacrifice to win

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10
Q

just like money: can build or destroy

A

brick

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11
Q

emergency, purchases, wealth building

A

reasons to save

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12
Q

preparation for wealth building

A

baby steps

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13
Q

available cash

A

liquid

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14
Q

high interest savings account

A

money market

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15
Q

has a fee for depositing money

A

certificate of deposit

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16
Q

pledged as security for repayment of a loan, to be fortified in the event of a default

A

collateral

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17
Q

opposite of debt culture, save until you can purchase

A

fund approach

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18
Q

has greater influence when paying with cash

A

haggle

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19
Q

number assigned to a person that indicates to lenders their capacity to repay a loan

A

credit score

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20
Q

investment opportunity with publicly held corporations

A

stock markets

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21
Q

interest added to the deposit so that the interest also earns interest

A

compound interest

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22
Q

not necessary

A

credit cards

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23
Q

adults who return to live with their parents due to debt

A

boomerang kids

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24
Q

the benefits of a given situation are analyzed as associated with the sum needed

A

cost analysis

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25
Q

blesses or wrecks the relationship

A

relatives and money

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26
Q

either self esteem or safety

A

money gender patterns

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27
Q

college (plus) family, work, church, volunteerism, friends

A

time poverty

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28
Q

rationalized due to being overworked

A

impulse buying

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29
Q

deficit in a bank account caused by drawing more money than the account holds

A

overdraft

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30
Q

usually older with money management skills, gives objective advice

A

accountability partner

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31
Q

repayment schedule may be deferred while the student is still in school

A

student loan debt

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32
Q

monthly debt divided by your gross monthly income

A

debt to income ratio

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33
Q

legal obligation made by this person to make payment in event of default

A

co-signer

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34
Q

details person’s financial history specific to their ability to repay borrowed money

A

credit report

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35
Q

company that collects information related to individuals patent practices

A

credit bureau

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36
Q

limits the behavior or actions of those attempting to obtain a payment

A

fair debt/collection laws

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37
Q

is a legal binding contract for a specific period of time

A

lease (apartment)

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38
Q

often displayed by drama addicts and poor planning

A

management by crisis

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39
Q

cash taken from an individuals account every month

A

auto payments

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40
Q

fundamental change in approach or underlying assumptions

A

paradigm shift

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41
Q

a range of investments held by a person

A

portfolio

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42
Q

the most expensive version of financing

A

lease (car)

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43
Q

oversized amount due at the end of a mortgage or commercial loan

A

balloon payment

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44
Q

drops in 18%-28% in the first year

A

brand new car

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45
Q

the difference between current market value and what is owed

A

equity

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46
Q

combining of several loans into a new loan and paying more interest

A

debt consolidation

47
Q

biggest wealth builder- money received regularly through work or investments

A

income

48
Q

main goals are to protect consumers and ensure a competitive market

A

Federal Trade Commission

49
Q

wrongful or criminal deception intended to result in financial or personal gain

A

fraud

50
Q

allows others into your financial accounts

A

electronic access

51
Q

buyer alone is responsible for checking the quality of goods before a purchase is made

A

caveat emptor

52
Q

taking control over your impulse buying through various tactics

A

power over purchase

53
Q

research best quality at best price before a large purchase

A

due diligence

54
Q

loss of potential gain from other alternatives when one alternative is chosen

A

opportunity cost

55
Q

over $1,000, house, car, vacation, reception, furniture…

A

major purchase

56
Q

arrangement by which a company guarantees compensation for specified loss in return for payment

A

insurance

57
Q

being responsible by law

A

liability

58
Q

the cost of insurance

A

premium

59
Q

specific amount of money that the insured must pay before an insurance company will pay on their claims

A

deductible

60
Q

minimum auto insurance coverage required by law

A

PLPD

61
Q

beneficiary payment, especially for health services, in addition to that made by an insurer

A

co-pay

62
Q

bought more cheaply than is usual or expected

A

bargain

63
Q

tactic of bargaining and power over purchase

A

walk away

64
Q

public sale in which goods or property are sold to the highest bidder

A

auction

65
Q

liquidation of the belongings of someone who has passed away

A

estate sale

66
Q

future contract with no share rights or dividends

A

single stock

67
Q

investor loans money to an entity

A

bonds

68
Q

insurance company investment designed to grow funds

A

annuity

69
Q

payments regular paid by a company to its shareholders

A

dividends

70
Q

in charge of accounting

A

CFO

71
Q

in charge of management and growth

A

CEO

72
Q

individual who has purchased shares from a corporation

A

stockholder

73
Q

measure of profit as related t the possibility of loss of the investment

A

risk return ratio

74
Q

person who organizes, creates, and operates a business

A

entrepreneur

75
Q

usually involves, quiet deliberative thought

A

creative process

76
Q

events by chance in a happy or beneficial way

A

serendipity

77
Q

conduct of profit solely through the internet

A

e-business

78
Q

knowledge dealing with applied sciences, especially in industry

A

technology

79
Q

governmental system that often slows or impedes growth progress

A

bureaucracy

80
Q

efforts of two or more parties acting independently to secure the same goal

A

competition

81
Q

scientific, technical, medical training is sold

A

information business

82
Q

old form of management: status given to those with experience

A

hierarchy

83
Q

activities followed by a firm to deliver their product or service to the market

A

value chain

84
Q

goods or services obtained by an external supplier

A

outsource

85
Q

specializes in fulfilling a service on behalf of the product/company owner

A

fulfillment

86
Q

bridge between an idea and a business plan

A

business concept

87
Q

the action of supplying goods to the consumer

A

distribution

88
Q

process of investigating the big picture of a specific industry for a niche

A

feasibility

89
Q

a great concept statement that presents a business idea as utmost importance

A

executive summary

90
Q

proof of plausible financial growth through instating specific steps

A

development plan

91
Q

usually a 1-3-5 year statement of posit application and expected growth

A

financial plan

92
Q

graphic representation of obtaining goals from both the developmental and financial plans

A

timeline

93
Q

a change or process of change which allows profit to be better suited to the business environment

A

adaptation

94
Q

ability to exert influence over another

A

bargaining power

95
Q

creating a unique name and image for a product

A

branding

96
Q

concentrating all marketing efforts on a small but specifically defined segment of a industry

A

niche

97
Q

planned investigation aimed at knowledge of a company or it’s products

A

industry research

98
Q

general direction in which something is developing or changing

A

trends

99
Q

method of leadership used

A

management style

100
Q

behavior of humans within an organization toward producing employee satisfaction

A

business culture

101
Q

agency that regulates the securities market

A

US securities and exchange commission

102
Q

presidential cabinet sector that promotes job and business creation

A

US department of commerce

103
Q

point of reference against which things may be compared or assessed

A

benchmarks

104
Q

statistical data relating to particular groups

A

demographics

105
Q

consumer’s desire and willingness to pay a price for a specific good or service

A

demand

106
Q

a tool used to provide insights into the market success of a new product

A

test market

107
Q

funds needed to launch a start-up business

A

capital requirement

108
Q

summary of the aims and values of a company

A

mission statement

109
Q

article, substance, or service manufactured or offered for sale

A

product

110
Q

the goal of increasing sales and achieving a competitive advantage

A

marketing strategy

111
Q

structure detailed as it relates to use of funds received to start a new business

A

loan fund dispersal

112
Q

summing up prior experience in business

A

resume

113
Q

recommendation provided by a business associate

A

reference

Economics: Final (1 decks)

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