Term
| to set aside income for a time so you have it to use later |
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Definition
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Term
| How does putting money in a savings account benefit the economy as a whole? |
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Definition
| makes money for others to invest or spend |
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Term
| the payment people receive when they lend money, or allow someone to use their money |
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Definition
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Term
| the amount of money you initially deposited/borrowed |
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Definition
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Term
| profit earned by the investor |
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Definition
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Term
| buying partial ownership in a company |
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Definition
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Term
| What are two ways that an investor receives money from stock? |
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Definition
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Term
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Definition
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| pools of money for many people |
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Definition
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Term
| buying stuff because you want it |
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Definition
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Term
| careful record of all the money you earn and spend |
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Definition
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Term
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Definition
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Term
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Definition
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Term
| borrowing money to pay for something now while promising to repay it later |
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Definition
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Term
| the person who loans money |
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Definition
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Term
| the person who receives loaned money |
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Definition
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Term
| the annual cost of credit expressed as a percentage of the amount borrowed |
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Definition
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Term
| an evaluation of the likelihood of a borrower to default on, or be unable to repay, a loan |
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Definition
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Term
| property that a borrower pledges as security for a loan |
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Definition
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Term
| What are three sources of credit? |
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Definition
banks
credit unions
finance companies |
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Term
| What is the most common type of credit today? |
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Definition
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Term
| the inability to pay debts |
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Definition
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Term
| What is the negative effect of declaring bankruptcy |
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Definition
| remains on your credit rating |
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Term
| someone who buys a product or service |
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Definition
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Term
| the money that remains after all taxes have been paid |
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Definition
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Term
| the money remaining after paying for neccessities |
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Definition
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Term
| movement to educate buyers about the purchases they make and demand better and safer products from manufacturers |
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Definition
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Term
| What does the Fair Packaging and Labeling Act require? |
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Definition
| every package to have a label identifying its contents and its weight |
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Term
| What does the Food, Drug and Cosmetic Act require? |
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Definition
| packages to list their ingredients according to the amount of each |
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Term
| What does the Pure Food and Drug Act state? |
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Definition
| it requires manufacturers of foods, cosetics, and drugs to prove their products are safe |
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Term
| Five consumer rights as stated in the Consumer Bill of Rights |
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Definition
safe product
be informed
to choose
to be heard
to redress |
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Term
| How does comparison shopping help the conumer? |
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Definition
| helps find the best product at the best price |
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Term
| the promise of a manufacturer or a seller to repair or replace a faulty product within a certain time period. |
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Definition
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Term
| accounts at a bank, savings association, or credit union |
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Definition
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Term
| bank notes for a set period of time at a fixed rate of interest |
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Definition
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Term
| savings accounts offered by banks that require a high minimum balance |
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Definition
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Term
| the us government issues savings bonds as one its ways of borrowing money |
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Definition
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Term
| interest rate in a banks savings accounts |
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Definition
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Term
| interest rates in certificates of deposit |
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Definition
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Term
| interest rates in money market accounts |
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Definition
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Term
| interest rates in a us savings bond |
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Definition
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Term
| time frame for a bank savings account |
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Definition
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Term
| time frame for a certificates of deposit |
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Definition
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Term
| time fram in money market accounts |
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Definition
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Term
| time fram in us saving bonds |
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Definition
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