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Personal Finance 6
vocabulary review
| Term | Definition |
|---|---|
| liquidity | the quality of being easily converted to cash |
| market | the process through which buyers and sellers exchange with one another |
| market confidence | understanding value and quality of a product or services in the planning purchases |
| market economy | an economic system where both producers and consumers play an active role in determining what is produced and sold and at what price |
| maturity | the time when a corporation repays borrowed money |
| maturity date | the date on which you must renew a certificate, cash it in, or purchase a new certificate; |
| money market account | a bank deposit that pays interest and that allows a saver to withdraw money at will, often by writing checks |
| money market fund | a combination savings-investment plan in which the deposit holder(brokerage firm) invests your money in a variety of financial instruments |
| monopoly | a situation where there is only one producer of a product or service |
| municipal bonds | bond issued by state and local government units. Earnings are tax -free |
| NASDAQ | National Association of Securities Dealers Automated Quotation system is an important part of the over the counter market |
| Net income | a company's revenue minus its expenses. Net income is also called earnings or profits |
| NYSE | the New York Stock Exchange, which is one of the organized stock markets in the US |
| no-load mutual fund | mutual funds that do not charge commissions. However, there are annual maintenance charges and service fees |
| Open-ended credit | credit where the lender places a limit on how mush a qualifying customer can borrow during a given period |
| over-the-limit fee | a charge imposed on some credit accounts for spending more than your credit limit |
| overdraft (or NSF not-sufficient funds check) | a check written without sufficient money in an account to cover it |
| past due | the status of a bill when the minimum payment has not been received by the due date |
| penny stock | stocks that sell for less than $5 per share |
| Personal Identification Number (PIN) | a four digit code that allows you to make deposits and withdrawals with your ATM (Automated Teller Machine) card |
| posting date | the date that a purchase, cash advance, fee, services charge or payment is recorded on you charge or credit account |
| principal | the total amount that is financed or borrowed and on which interest is compounded |
| recession | economy slows down and manufacturers slow production (there are layoffs); an economic downturn of two or more quarters |
| revolving credit | a credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. |
| saving | setting aside income or money for future spending |
| savings bond | an interest-bearing certificate purchased at a bank. The face value includes interest and the full amount is paid upon maturity |
| secured credit card | a consumer uses savings or other collateral to guarantee the credit card; the line of credit is based on the amount of collateral |
Created by:
SusieQ60
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