Term
| How is insurance defined? |
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Definition
| contract that protects you from risk. |
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Term
| What is a demand to the insurer for payment of benefits under an insurance contract? |
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Definition
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Term
| ______ is purchased for a specific length of time at a fixed rate based on the age and health of the indiviual? |
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Definition
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Term
| Many financial advisors willrecommend a policy that is at least equal to ___ times your annual gross income. |
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Definition
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Term
What is the amount to be paid by the insured during a given period before any payment is made by the insurance company?
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Term
| Which is a definition for the price of an insurance policy? |
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Definition
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Term
| What will pay for damage to the insured vehicle resulting from events other than collision? |
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Definition
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Term
| What is a tax levied on real estate, which includes land and permanent improvements made to land? |
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Definition
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Term
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Definition
| right to transfer assest at death. "death tax" |
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Term
| Property taxes typically provide the primary source of revenue for ___. |
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Definition
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Term
| What is a progressive tax? |
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Definition
| income and taxes increase |
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Term
| What is a tax levied by a state, country, and/or cityon the price of goods or services purchased by consumers? |
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Definition
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Term
| _____ is the science that deals withthe production, distribution, and consumption of wealth. |
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Definition
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Term
| Indiviuals cannot live without some basic _____. |
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Definition
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Term
| The _____ states thatas the market price of a good or a service increases, the quantity supplied in the market will also increase. |
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Definition
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Term
| Which law states that as the market price of a good or a service increases, the quantity demanded of that good or service decreases? |
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Definition
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Term
| What would stage 2 in a production function typically exhibit? |
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Definition
| increasing at a slow rate (kanye) |
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Term
| What is the definition of marginal cost? |
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Definition
| cost that is takes to produce one unit of something |
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Term
| What occurs when marginal revenue is equal to marginal cost? |
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Definition
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Term
| What is an investment that sees indiviual investors pool their money and professional money managers manage the pool? |
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Definition
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Term
| What represent a share of ownership in a company, and may increase or decrease in value based on the company's performance? |
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Definition
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Term
| Which type of investment would be considered to have a relatively constant liquidity? |
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Definition
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Term
| Which method of marketing commodities involves a sale that occurs at the point of delivery inwhich the seller receives immediate payment for a commodity at the price in effect that day? |
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Definition
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Term
| What is a definition of a futures contract? |
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Definition
| agree on specified quantity, date, and price |
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Term
| Which is disadvantage of a cash sale for a producer? |
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Definition
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Term
| What is the relationship between the local cash market price and the futures market price called? |
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Definition
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Term
| In 1848, the ____ was founded by 82 businessmen, who established rules to make traders accountable to the terms of the contracts being traded. |
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Definition
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Term
| What is a third party between traders that insures performance from all involved parties? |
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Definition
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Term
| Which is the world's largest and most diverse exchange? |
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Definition
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Term
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Definition
| have or need the commodities; (farmers) |
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Term
| What is one item not included among the standard details in contract specifications? |
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Definition
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Term
| The initial buy or the physical ownership is called a ____ in the futures market. |
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Definition
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Term
| ____ is the last price that anyone paid during trading on the given date. |
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Definition
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Term
| ____ is the conversion of an option into a demand for performance on the underlying contract. |
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Definition
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Term
| Which is a basic feature for options? |
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Definition
| give the right to buy and sell pay premium |
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Term
| If the intrinsic value is negative, it is called ____. |
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Definition
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Term
| Who is an indiviual who acts on behalf of a client who is buying or selling futures or options contracts and more? |
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Definition
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Term
| What type of order is filled promptly at the current price? |
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Definition
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Term
| Which is a demand factor that can influence agricultural commodities? |
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Definition
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