PF Key Definitions Flashcards
1
Q
Interest Rate
A
The cost of borrowing or reward for saving.
2
Q
Debt
A
Money owed to creditors, hence the term credit.
3
Q
Credit Rating
A
A score given to individuals on how likely they are the repay debts based upon their history.
4
Q
Bankrupt
A
When an individual or organisation legally states its inability to repay debts.
5
Q
Solvent
A
The ability to meet day-to-day expenditure & repay debts.
6
Q
Economy
A
The state of a country or region in terms of the production and consumptions of goods & services.
7
Q
Inflation
A
The general rise in prices.
