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Economics Definition
Economics
| Question | Answer |
|---|---|
| A.P.R. | Annual Percentage Rate |
| A.P.Y. | Annual Percentage Yield |
| Balance | A certain amount of money |
| Capacity to Pay | How much you are able to afford |
| Capital Gains | A profit from the sale of property or an investment |
| C.D.'s | Certificate of Deposit |
| Character | The financial history of a person |
| Checking Account (DDA) | An account at a bank against which checks can be drawn by the account depositor |
| Collateral | An item of value pledged to secure a loan |
| Comprehensive Insurance | Protects against damage to your vehicle caused by non-collision that are outside of your control |
| Collision Insurance | Pays the cost of repairing or replacing your vehicle if it is damaged in an accident, regardless of who is at fault |
| Co-Payement | A fixed amount you pay for a covered health care service after you've paid your deductible |
| Corporate Bond | A bond issued by a corporation in order to raise financing for a variety of reasons |
| Credit Score | A numerical rating representing the perceived ability of a person or organization to fulfill their financial commitments |
| Credit Union | A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates |
| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase |
| Deductible | The amount you pay for covered health care services before your insurance plan starts to pay |
| Depreciation | A reduction in the value of an asset with the passage of time |
| Diversification | The action of diversifying something or the fact of becoming more diverse. |
| Dividends | A sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits |
| Dow Jones Industrial Average | A stock market index of 30 prominent companies listed on stock exchanges in the United States |
| FAFSA | Free Application for Federal Student Aid |
| FDIC Insured | The Federal Deposit Insurance Corporation which insure your money in a bank account up to $250,000 |
| FICA | Federal Insurance Contributions Act; collects social security |
| Grants | A sum of money given by a government or other organization for a particular purpose |
| Gross Income | The total amount earned before taxes or other deductions |
| H.M.O. | A medical insurance group that provides health services for a fixed annual fee |
| Index Fund | a portfolio of stocks or bonds designed to mimic the composition and performance of a financial market index |
| Installment Loan | A credit account that provides a lump sum to be paid off over time in equal monthly payments |
| Investment | Commitment of resources to achieve later benefits |
| Invoice | What a car manufacturer charges the dealer for the vehicle |
| I.P.O. | Initial Public Offering of a company's stock |
| I.R.A. | Independent Retirement Account |
| Lease | A contract by which one conveys real estate, equipment, or facilities for a specified term and for a specified rent |
| Maturity | The date on which the life of a transaction or financial instrument ends |
| Money Market Account (MMA) | A deposit account that pays interest based on current interest rates in the money markets |
| Mortgage | A creditor lends money at interest in exchange for taking title of the debtor's property |
| M.P.G. | Miles per Gallon |
| M.S.R.P. | Manufacture Suggested Retail Price; what the base price of a product is |
| Mutual Fund | They let you pool your money with other investors to "mutually" buy stocks, bonds, and other investments |
| NASDAQ | The largest stock market in the U.S.A. |
| Net Monthly Income | The money you actually get from your paycheck each month |
| Par Value | The nominal value of a bond, share of stock, or a coupon as indicated in writing on the document |
| P.P.O. | A type of medical plan in which coverage is provided to participants through a network of selected health care providers |
| Premium | An amount to be paid for an insurance policy |
| Principal | The money that you originally agreed to pay back |
| Revolving Loan | Occurs when a lender grants a borrower money up to an approved limit |
| Room and Board | Lodging and food, typically forming part of someone's wages or included in some other agreement. |
| S & P 500 | A stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States |
| Savings Account | A bank account that earns interest. |
| Security Deposit | A one-time deposit of money given to the landlord at the time of lease signing to ensure that rent will be paid and other responsibilities on the lease are performed |
| Stocks | A share which entitles the holder to a fixed dividend, whose payment takes priority over that of common-stock dividends |
| Stock Split | An issue of new shares in a company to existing shareholders in proportion to their current holdings |
| Tenant | A person who occupies land or property rented from a landlord |
| Tuition | A sum of money charged for teaching or instruction by a school, college, or university |
| U.S. Treasury Bond | Government debt securities issued by the U.S. Federal government that have maturities of 20 or 30 years |
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