Personal Finance
EXAM REVIEW: DEFINITIONS
Economics
Amount of money to be paid by a person before
insurance benefits are assessed.
b. An obligation for funds borrowed.
c. The study of production, distribution & consumption
of goods & services.
d. The cost required in exchange for some benefit or
service.
a.
C. The study of production, distribution &
consumption of goods & services.
Deflation
a.
b.
c.
d.
An obligation for funds borrowed.
The study of production, distribution &
consumption of goods & services.
The cost required in exchange for some benefit
or service.
Decrease in the general price level of goods &
services typically caused by a reduction in the
supply of money.
d.
Decrease in the general price level of goods &
services typically caused by a reduction in the supply
of money.
Equilibrium Price
Cost of an insurance policy.
b. Exchange of money for the purpose of a future
gain.
c. Point at which quantity demanded equals the
quantity supplied.
a.
d. Investment
in society to improve people &
circumstances that could not create the
investment themselves.
c.
Point at which quantity demanded equals the
quantity supplied.
Disposable Income
Amount remaining to spend or save after all
financial obligations are satisfied.
b. Cost of an insurance policy.
c. Exchange of money for the purpose of a future
gain.
a.
d. Point
at which quantity demanded equals
the quantity supplied.
a.
Amount remaining to spend or save after all
financial obligations are satisfied.
Debts
Amount of money to be paid by a person before
insurance benefits are assessed.
b. An obligation for funds borrowed.
c. The study of production, distribution & consumption
of goods & services.
a.
d. The
cost required in exchange for some
benefit or service.
b.
An obligation for funds borrowed.
Budgeting
Point at which quantity demanded equals the
quantity supplied.
b. Investment in society to improve people &
circumstances that could not create the
investment themselves.
c. Amount of a deposit into a retirement account.
d. Process of managing income & expenses to
accomplish a specific purpose.
a.
d.
Process of managing income & expenses to
accomplish a specific purpose.
Expenses
Amount of money to be paid by a person before
insurance benefits are assessed.
b. An obligation for funds borrowed.
c. The study of production, distribution & consumption
of goods & services.
d. The cost required in exchange for some benefit or
service.
a.
d.
The cost required in exchange for some benefit or
service.
Investment
Amount remaining to spend or save after all
financial obligations are satisfied.
b. Cost of an insurance policy.
c. Exchange of money for the purpose of a future
gain.
d. Point at which quantity demanded equals the
quantity supplied.
a.
c.
Exchange of money for the purpose of a future
gain.
Portfolio
Decrease in the general price level of goods &
services typically caused by a reduction in the
supply of money.
b. Financial approach to calculate past, current &
future values.
c. Group of financial vehicles held by an individual.
d. Amount remaining to spend or save after all
financial obligations are satisfied.
a.
c.
Group of financial vehicles held by an individual.
Contribution
Point at which quantity demanded equals the
quantity supplied.
b. Investment in society to improve people &
circumstances that could not create the
investment themselves.
c. Amount of a deposit into a retirement account.
d. Process of managing income & expenses to
accomplish a specific purpose.
a.
c.
Amount of a deposit into a retirement account.
Premium
Cost of an insurance policy.
b. Exchange of money for the purpose of a future
gain.
c. Point at which quantity demanded equals the
quantity supplied.
d. Investment in society to improve people &
circumstances that could not create the
investment themselves.
a.
a.
Cost of an insurance policy.
Deductible
Amount of money to be paid by a person before
insurance benefits are assessed.
b. An obligation for funds borrowed.
c. The study of production, distribution & consumption
of goods & services.
a.
d. The
cost required in exchange for some
benefit or service.
a. Amount of money to be paid by a person before
insurance benefits are assessed
Philanthropy
Point at which quantity demanded equals the
quantity supplied.
b. Investment in society to improve people &
circumstances that could not create the
investment themselves.
c. Amount of a deposit into a retirement account.
d. Process of managing income & expenses to
accomplish a specific purpose.
a.
b.
Investment in society to improve people &
circumstances that could not create the
investment themselves.
Time Value of Money
The study of production, distribution & consumption
of goods & services.
b. The cost required in exchange for some benefit or
service.
c. Decrease in the general price level of goods &
services typically caused by a reduction in the
supply of money.
d. Financial approach to calculate past, current &
future values.
a.
d.
Financial approach to calculate past, current &
future values.