Econ Key terms Flashcards | Quizlet Home Explanations 12/11/21, 5:14 PM Your library Create Upgrade: Free 7-… Study sets, textbooks, que… Econ Key terms Terms in this set (26) Financial Institution group that channels savings to investors; includes banks, insurance companies, savings and loan associations, credit unions savings the dollars that become available for investors to use when others save interest payment made for the use of borrowed money interest rate the price of credit to a borrower Federal Reserve System privately owned, publicly controlled, central bank of the United States credit unions nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services Federal Deposit Insurance Corporation (FDIC) the U.S. government institution that provides deposit insurance on the depositor's account Demand deposit account an account whose funds can be removed from a bank or other financial institution by writing a check and without having to gain prior approval from the depository institution Creditors persons or institutions to whom money is owed collateral something of value that a borrower lets the lender claim if a loan is not repaid secured unsecured Sole Proporietorship partnership Loan that is backed up by collateral loan guaranteed only by a promise to repay it a business owned by one person A business in which two or more persons combine their assets and skills https://quizlet.com/650567784/econ-key-terms-flash-cards/?x=1qqt Page 1 of 2 Econ Key terms Flashcards | Quizlet corporation 12/11/21, 5:14 PM form of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, and to sue and be sued stockholder persons who own a share or shares of stock in a corporation; aka shareholder stocks certificates of ownership in a corporation; common or preferred stock dividend check paid to stockholders, usually quarterly, representing portion of corporate profits preferred stock form of corporate ownership without vote, in which stockholders get their investments back before common stockholders common stock most common form of corporate ownership, with one vote per share for stockholders mutual fund company that sells shares of a portfolio of securities, e.g., stocks and bonds issued by other companies municipal bonds a type of investment, often tax exempt, issued by state and local governments; known as munis savings bonds low-denomination, non-transferable bonds issued by the federal government, usually through payroll savings plans defaulted act of not repaying borrowed money premiums monthly, quarterly, semiannual, or annual price paid for an insurance policy deductible an amount you pay before the insurance company pays } https://quizlet.com/650567784/econ-key-terms-flash-cards/?x=1qqt Page 2 of 2
