Unit 1 - FEC
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| Economics | show 🗑
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| show | studies the behavior of small units; (peoples, households, businesses)
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| show | studies the behavior of the economy as a whole; (the United States economy)
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| show | the condition that results from society not having enough resources to produce all the things people would like to have
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| show | basic requirements for survival
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| show | a way of expressing a need
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| Shortage | show 🗑
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| Scarcity cannot... | show 🗑
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| show | productive resources needed to produce goods or services
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| Capital | show 🗑
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| Entrepreneurship | show 🗑
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| Labor | show 🗑
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| show | any natural resource used in a product; not created by humans
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| Cost-Benefit Analysis | show 🗑
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| show | the alternative that must be given up when one choice is made over another.
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| Opportunity Cost | show 🗑
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| PPC/PPF | show 🗑
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| show | outside/ to the right of the PPC
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| show | inside/to the left of the PPC.
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| show | a man-made product used by a business to create consumer goods or more capital goods
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| show | products used by consumers.
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| Durable Goods | show 🗑
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| show | consumed immediately.
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| Step 1 | show 🗑
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| show | Pay of all debt, except house using debt snowball.
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| show | Save 3 to 6 months of expenses into savings.
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| Step 4 | show 🗑
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| Step 5 | show 🗑
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| Step 6 | show 🗑
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| show | Build wealth and give.
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| show | it makes your money grow faster from it being calculated using the accumulated interest over time and the original investment.
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| show | A PAC (political action committee) is a tax-exempt 527 organization that uses its campaign contributions from donations to campaign against candidates, etc. An example of this would be “3M Company PAC”.
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| What is an emergency fund? How much should you put in one? | show 🗑
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| show | Someone would use debt snowball by paying the minimum on all their debts except their smallest. Once they have paid of their smallest debt, they take the money they used to spend on that payment to help pay off their next smallest debt. So on.
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| What are the 3 reasons for saving money that Dave Ramsey identifies? | show 🗑
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| What is the sinking fund approach? | show 🗑
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| show | Diversification important in regard to your investments because it reduces risk and may lead to a higher return/profit.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
williscallip
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