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Finals Senior Year > Econ > Flashcards

Econ Flashcards

1
Q

Deep debt accepted as the norm.

A

Debt culture

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2
Q

Funds running out

A

Social security act 1935

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3
Q

Unprepared for retirement.

A

Baby boomers

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4
Q

Baby step #3.

A

Build wealth

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5
Q

Safe, long term investing.

A

Mutual fund

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6
Q

Income designated is often matched by employer.

A

401 K

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7
Q

$1,000

A

Emergency fund

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8
Q

Self control gives us our goals.

A

Sacrifice to win

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9
Q

Just like money: can build or destroy.

A

Brick

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10
Q

Emergency, purchases, wealth building.

A

Reasons to save

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11
Q

Preparation for wealth building.

A

Baby steps

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12
Q

Available cash

A

Liquid

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13
Q

High interest savings account.

A

Money market

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14
Q

Has a fee for depositing money.

A

Certificate of deposit

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15
Q

Pledged as security for repayment of a loan, to be forfeited in the event of a default.

A

Collateral

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16
Q

Opposite of debt culture, save until you can purchase.

A

Fund approach

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17
Q

Has greater influence when paying with cash.

A

Haggle

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18
Q

Number assigned to a person that indicates to lenders their capacity to repay a loan.

A

Credit score.

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19
Q

Investment opportunity with publicly held corporations.

A

Stock market

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20
Q

Interest added to the deposit so that the interest also earns interest.

A

Compound interest

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21
Q

Not necessary.

A

Credit cards

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22
Q

Adults who return to live with their parents due to debt.

A

Boomerang kids

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23
Q

The benefit of a given situation are analyzed as associated with the sum needed.

A

Cost analysis

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24
Q

Blesses or wrecks the relationship.

A

Relatives and money

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25
Q

Either self esteem or safety.

A

Money and gender patterns

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26
Q

College + family, work, church, volunteerism, friends.

A

Time poverty

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27
Q

Rationalized due to being overworked.

A

Impulse buying

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28
Q

Deficit in a bank account caused by drawing more money than the account holds.

A

Over draft

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29
Q

Usually older with money management skills, gives objective advise.

A

Accountability partner

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30
Q

Repayment schedule may be differed while the student is still in school.

A

Student loan debt

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31
Q

Monthly debt divided by your gross monthly income.

A

Debt to income ratio

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32
Q

Legal obligation made by this person to make payment in event of default.

A

Co-signer

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33
Q

Details persons financial history specific to their ability to repay borrowed money.

A

Credit report

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34
Q

Company that collects information related to individuals payment practices.

A

Credit bureau

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35
Q

Limits the behavior or actions of those attempting to obtain a payment.

A

Fair debt/collections laws

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36
Q

Is a legal binding contract for a specific period of time.

A

Lease (apartment)

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37
Q

Often displayed by drama addicts and poor planning.

A

Management by crisis

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38
Q

Cash taken from an individuals account every month.

A

Auto payments

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39
Q

Fundamental change in approach or underlying assumptions.

A

Paradigm shift

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40
Q

A range of investments held by a person.

A

Portfolio

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41
Q

The most expensive version of financing.

A

Lease (car)

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42
Q

Oversized amount due at the end of a mortgage or commercial loan.

A

Balloon payment

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43
Q

Drops in 18%-28% in the first year.

A

Brand new car

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44
Q

The difference between current market value and what is owed.

A

Equity

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45
Q

The combination of several loans into a new loan and paying more interest.

A

Debt consolidation

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46
Q

Biggest wealth builder- money received regularly through work of investments.

A

Income

47
Q

Main goals are to protect consumers and ensure a competitive market.

A

Federal trade commission

48
Q

Wrongful or criminal deception intended to result in financial or personal gain.

A

Fraud

49
Q

Allows others into your financial accounts.

A

Electronic access

50
Q

Buyer alone is responsible for checking the quality of goods before a purchase is made.

A

Caveat emptor

51
Q

Taking control over your impulse buying through various tactics.

A

Power over purchase

52
Q

Research best quality at best price before a large purchase.

A

Due diligence

53
Q

Loss of potential gain from other alternatives when one alternative is chosen.

A

Opportunity cost

54
Q

Over $1,000, house, car, vacation, reception, furniture….

A

Major purchase

55
Q

Arrangement by witch a company guarantees compensation for specified loss in return for payment.

A

Insurance

56
Q

Being responsible by law.

A

Liability

57
Q

The cost of insurance.

A

Premium

58
Q

Specific amount of money that the insured must pay before an insurance company will pay on their claims.

A

Deductible

59
Q

Minimum auto insurance coverage required by law.

A

PLPD

60
Q

Beneficiary payment, especially for health services, in addition to that made by an insurer.

A

Co-pay

61
Q

Bought more cheaply than is usual or expected.

A

Bargain

62
Q

Tactic of bargaining and power over purchase.

A

Walk away

63
Q

Public sale in which goods or property are sold to the highest bidder.

A

Auction

64
Q

Liquidation of the belongings of someone who has passed away.

A

Estate sale

65
Q

Futures contract with no sale rights or dividends.

A

Single stock

66
Q

Invested loans money to an entity.

A

Bonds

67
Q

Insurance company investment designed to grow funds.

A

Annuity

68
Q

Payments regularly paid by a company to its shareholders.

A

Dividends

69
Q

In charge of accounting.

A

CFO

70
Q

In charge of management and growth.

A

CEO

71
Q

Individual who has purchased shares from a corporation.

A

Stockholders

72
Q

Measure of profit as related to the possibility of loss of the investment.

A

Risk return ratio

73
Q

Person who organizes, creates and operates a business.

A

Entrepreneur

74
Q

Usually requires quiet deliberative thought.

A

Creative process

75
Q

Events by chance in a happy or beneficial way.

A

Serendipity

76
Q

Conduct of profit solely through the internet.

A

E-business

77
Q

Knowledge of dealing with applied sciences especially in industry.

A

Technology

78
Q

Governmental system that often slows or impedes progress.

A

Bureaucracy

79
Q

Efforts of two or more parties acting independently to secure the same goal.

A

Competition

80
Q

Scientific, technical, medical training is sold.

A

Information business

81
Q

Old form of management: status given to those with experience.

A

Hierarchy

82
Q

Activities followed by a firm to deliver their product or service to the market.

A

Value chain

83
Q

Goods or services obtained by an external supplier.

A

Outsource

84
Q

Specializes in fulfilling a service on behalf of the product/company owner.

A

Fulfillment

85
Q

Bridge between an idea and a business plan.

A

Business concept

86
Q

The act of supplying goods to the consumer.

A

Distribution

87
Q

Process of investigating the big picture of a specific industry for a niche.

A

Feasibility

88
Q

A great concept that presents a business idea as utmost importance.

A

Executive summary

89
Q

Proof of plausible financial growth through instating specific steps.

A

Development plan

90
Q

Usually a 1-3-5 year statement of profit application and expected growth.

A

Financial plan

91
Q

Graphic representation of obtaining goals from both the developmental and financial plans.

A

Timeline

92
Q

A change or process of change which allows profit to be better suited to the business environment.

A

Adaptation

93
Q

Ability to exert influence over another.

A

Bargaining power

94
Q

Ability to exert influence over another.

A

Bargaining power

95
Q

Creating a unique name and image for a product.

A

Branding

96
Q

Concentrating all marketing efforts on a small but specifically defined segment of an industry.

A

Niche

97
Q

Planned investigation aimed at knowledge of a company or it’s products.

A

Industry research

98
Q

General direction in which something is developing of changing.

A

Trends

99
Q

Method of leadership used.

A

Management style

100
Q

Behavior of humans within an organization toward producing employee satisfaction.

A

Business culture

101
Q

Agency that regulates the securities market.

A

US securities and exchange commission

102
Q

Presidential cabinet sector that promotes job and business creation.

A

US department of commerce

103
Q

Point of reference against which things may be compared or assessed.

A

Benchmarks

104
Q

Statistical data relating to particular groups.

A

Demographics

105
Q

Consumers desire and willingness to pay a price for a specific good or service.

A

Demand

106
Q

A tool used to provide insights into the market success of a new product.

A

Test market

107
Q

Funds needed to launch a start up business.

A

Capital requirements

108
Q

Summary of the aims and values of a company.

A

Mission statement

109
Q

Article, substance, or service manufactured or offered for sale.

A

Product

110
Q

The goal of increasing sales and achieving a competitive advantage.

A

Marketing strategy

111
Q

Structure detailed as it relates to use of funds received to start a new business.

A

Loan fund dispersal

112
Q

Summing up prior experience in business.

A

Resume

113
Q

Recommendation provided by a business associated.

A

Reference

114
Q

Irresponsible spending, pretending to be rich.

A

Visa gold card mentality

Finals Senior Year (3 decks)

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