General Flashcards
(8 cards)
1
Q
Inflation
A
The rising in price of goods and services
2
Q
Deflation
A
When prices decline
3
Q
Depression
A
When a recession goes on for years
4
Q
The difference between your assets and liabilities If you have more assets than liabilities, you have a positive net worth
A
Net worth
5
Q
Items of value that you own - i.e.: cash, stocks, real estate and personal possessions
A
Assets
6
Q
Current or future financial obligations, i.e.: unpaid bills, credit card charges, mortgages, personal loans, and taxes
A
Liabilities
7
Q
The difference between what you own and what you owe
A
Determining Net Worth
8
Q
A
