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Fdg > Economics > Flashcards

Economics Flashcards

0
Q

Debt culture

A

Deep debt accepted as the norm

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1
Q

VISA Gold card mentality

A

Irresponsible spending, pretending to be rich

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2
Q

Social security act of 1935

A

Funds running out

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3
Q

Baby boomers

A

Unprepared for retirement

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4
Q

Build Wealth

A

Baby step #3

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5
Q

Mutual fund

A

Safe, long term investing

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6
Q

401k

A

Income designated is often matched by employer

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7
Q

Emergency fund

A

1000$

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8
Q

Sacrifice to win

A

Self control gives us goals

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9
Q

Brick

A

Just like money, can build or destroy

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10
Q

Reasons to save

A

Emergency, purchases, wealth building

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11
Q

Liquid

A

Available cash

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12
Q

Money market

A

High interest savings account

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13
Q

Certificate of deposit

A

Has a fee for depositing money

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14
Q

Collateral

A

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

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15
Q

Fund approach

A

Opposite of debt culture, save until you can purchase

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16
Q

Haggle

A

Has greater influence when paying with cash

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17
Q

Credit score

A

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

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18
Q

Stock market

A

Investment Oppurtunity with publicly held corporations

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19
Q

Compound interest

A

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

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20
Q

Credit cards

A

Not necessary

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21
Q

Boomerang kids

A

Adults who return to live with their parents due to debt

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22
Q

Cost analysis

A

The benefits of a given situation are analyzed as associates with the sum needed

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23
Q

Relatives and money

A

Blesses or wrecks the relationship

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24
Q

Money and gender patterns

A

Either self esteem or safety

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25
Q

Time poverty

A

College family, work, church, volunteerism, friends

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26
Q

Impulse buying

A

Rationalized due to being overworked

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27
Q

Overdraft

A

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

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28
Q

Accountability partners

A

Usually older with money management skills,gives objective advice

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29
Q

Student loan debt

A

Repayment schedule may be deferred while the student is still in school

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30
Q

Debt to income ratio

A

Monthly debt divided by your gross monthly income

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31
Q

Co-Signer

A

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

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32
Q

Credit Report

A

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

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33
Q

Credit Bureau

A

Company that collects information related to individuals payment practices

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34
Q

Fair debt/Collections Laws

A

Limits the behavior or actions of those attempting to obtain payment

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35
Q

Lease

A

Is a legal binding contract for a specific period of time

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36
Q

Management by Crisis

A

Often displayed by drama addicts and poor planning

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37
Q

Auto payments

A

Cash taken from an individual’s account every month

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38
Q

Auto payments

A

Cash taken from an individual’s account every month

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39
Q

Paradigm shift

A

Fundamental change in approach or underlying assumption

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40
Q

Portfolio

A

A range of investments held by a person

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41
Q

Lease(car)

A

The most expensive version of financing

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42
Q

Balloon Payment

A

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

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43
Q

Brand new car

A

Drops in 18%-28% in the first year

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44
Q

Equity

A

The difference between current market value and what is owed

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45
Q

Debt consolidation

A

Combining of several loans into a new loan and paying more interest

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46
Q

Income

A

Biggest wealth builder

47
Q

Federal trade commission

A

Main goals are to protect consumers and ensure a competitive market

48
Q

Fraud

A

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

49
Q

Electronic access

A

Allows others into your financial accounts

50
Q

Electronic access

A

Allows others into your financial accounts

51
Q

Caveat emptor

A

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

52
Q

Caveat emptor

A

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

53
Q

Power over purchase

A

Taking control over your impulse buying through various tactics

54
Q

Due diligence

A

Research best quality at best price before a large purchase

55
Q

Oppurtunity costs

A

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

56
Q

Major Purchase

A

Over 1000$, house, car, vacation, reception, furniture

57
Q

Insurance

A

Arrangement by which a company guarantees compensation for,specified loss in return for payment

58
Q

Liability

A

Being responsible by law

59
Q

Premium

A

The cost of insurance

60
Q

Deductible

A

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

61
Q

Co-Pay

A

Minimum auto insurance coverage requires by law

62
Q

Bargain

A

Bought more cheaply than is usual or expected

63
Q

Walk away

A

Tactic of bargaining and power over purchase

64
Q

Auction

A

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

65
Q

Estate Sale

A

Liquidation of the belongings of someone who has passed away

66
Q

Single Stocks

A

Future contract with no share rights or dividends

67
Q

Bonds

A

Investor loans money to an entity

68
Q

Annuity

A

Insurance company investment designed to grow funds

69
Q

Dividends

A

Payments regularly paid by a company to there shareholders

70
Q

CFO

A

In charge of accounting

71
Q

CEO

A

In charge of management and growth

72
Q

Stockholders

A

Individual who has purchased shares from a coporation

73
Q

Risk return ratio

A

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

74
Q

Entrepreneur

A

Person who organizes, creates, and operates a business

75
Q

Creative Process

A

Usually involves, quiet deliberative thought

76
Q

Serendipity

A

Events by chance in a happy or beneficial way

77
Q

E-Business

A

Conduct of profit soles through the Internet

78
Q

Technology

A

Knowledge dealing with applied sciences, especially in industry

79
Q

Bureaucracy

A

Governmental system that often slows or impedes progress

80
Q

Competition

A

Efforts of two or more parties acting independently

81
Q

Information Business

A

Scientific,technical,medical training is sold

82
Q

Hierarchy

A

Old form of management: status given to those with experience

83
Q

Value chain

A

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

84
Q

Outsource

A

Goods or services obtained by an external supplier

85
Q

Fulfillment

A

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

86
Q

Business concept

A

Bridge between an idea and a business plan

87
Q

Distribution

A

The action of supplying goods to the consumer

88
Q

Feasibility

A

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

89
Q

Executive summary

A

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

90
Q

Development plan

A

Proof of plausible financial growth through instating specific steps

91
Q

Financial Plan

A

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

92
Q

Timeline

A

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

93
Q

Timeline

A

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

94
Q

Adaption

A

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

95
Q

Bargaining power

A

Ability to exert influence over another

96
Q

Branding

A

Creating an unique name and image for a product

97
Q

Niche

A

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

98
Q

Industry Research

A

Planned investigation aimed at knowledge of a company or its products

99
Q

Trends

A

General direction in which something is developing of changing

100
Q

Management style

A

Method of leadership used

101
Q

Business culture

A

Behavior of humans within an organization toward producing employee satisfaction

102
Q

US Securities and Exchange Commission

A

Agency that regulates the securities market

103
Q

US department of commerce

A

Presidential cabinet sector that promotes job and business creation

104
Q

Benchmarks

A

Point of reference against which things may be compared or assessed

105
Q

Demographics

A

Statistical data relating to particular groups

106
Q

Demand

A

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

107
Q

Test market

A

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

108
Q

Capital requirements

A

Funds needed to launch a start up business

109
Q

Mission statement

A

Summary of the aims and values of a company

110
Q

Product

A

Article, substance, or manufactured or offered for sale

111
Q

Marketing strategy

A

The goal of increasing sales and achieving a competitive advantage

112
Q

Loan fund dispersal

A

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

113
Q

Resume

A

Summing up prior experience in business

114
Q

Reference

A

Recommendation provided by a business associate

Fdg (7 decks)

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