Term
click below
click below
Term
Normal Size Small Size show me how
Chapter 20 Vocab
Personal Finance and Economics
Term | Definition |
---|---|
Consumer | A person who purchases goods and services |
Disposable Income | Money income remaining after have been paid |
Discretionary Income | Money left after necessities that have been paid for |
Consumerism | A movement to educate buyers |
Comparison Shopping | Looking at what other stores have in comparison to the one you're at |
Warranty | A companies guaranty that it won't break |
Budget | A detailed breakdown of everything you've bought |
Income | Amount of money you make |
Expenses | What you have to pay for |
Credit | Using someone else's money to buy something now |
Annual Percentage Rate | Annual cost of credit expressed as a percentage of the amount borrowed |
Collateral | Property or valuable serving as a security for a loan |
Bankcruptcy | Unable to pay your debt |
Save | To set aside income to use it for a later date |
Interest | The payment people receive when they lend money to someone who needs it |
Principal | The most important |
Return | Profit earned through investing |
Stock | Ownership or share of a company |
Dividend | Payment of a portion of a companies earning |
Bond | Contract to borrowed money with interest at a specific time in the future |
Mutual Funds | Pools of money from people who want to buy stocks as a group and share them |
Impulse Buying | Purchasing an item on the spot due to emotional feelings to do so |