Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Consumer Ec 1 > Week 3 > Flashcards

Week 3 Flashcards

0
Q

Preferred stock

A

Safer, you will receive a fixed dividend

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Common stock

A

Voting- basic ownership in a company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Dividends

A

Profit from stock

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

New York stock exchange NYSE

A

.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

NASDAQ

A

Tech stocks

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Dow

A

Jones industrial average for top 30 stocks-averaged day to day

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Bull market

A

Good, prices go up

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Bear market

A

Bad, prices go down

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Collectibles

A

Items or things people collect that they think may be or become valuable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

401 k

A

retirement savings plan allows a worker to save for retirement and have the savings invested

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

403 b

A

a tax-advantaged retirement savings plan available for public education organizations, some non-profit employers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Brokers

A

A person who buys and sells goods or assets for others.Arrange or negotiate (a settlement, deal, or plan): “attempts to broker a cease-fire”.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Financial advisors

A

Financial advisors typically provide clients/customers with financial products and services, depending on the licenses they hold and the training they have. For example, an insurance agent may be qualified to sell both life insurance and variable annuities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Traditional economy

A

Decisions about what to produce and how much is based on traditional customs and beliefs. Very rare, few exist in today’s world

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Command economy

A

Decisions about what to produce and how much is decided by the govt (central)
Govt leaders control all resources and make all decisions–communism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Market economy

A

Decisions about what to sell and how much are decided by individuals acting in their own self interest. Aka a capitalist system, key characteristic is free market

16
Q

Mixed economy

A

A combination of command and market systems. i.e. china

17
Q

Demand

A

Quantity of particular good that consumers are willing to buy. Demand for a product is not a fixed number

18
Q

Law of demand

A

When price item goes down. Demand goes up. When price goes up, demand goes down.

19
Q

Supply

A

Quantity of a particular item that producers are able to make available for sale.

20
Q

Law of supply

A

When price of product goes up, supply goes up. When price goes down, supply goes dowm

21
Q

Equilibrium

A

For every product there is a price where demand will equal supply.

22
Q

What taxes do you pay?

A

Income-any income you earn is taxed
SS-pay for the Ss program taken from paycheck(FICA)
Sales- tax on goods and services purchased
Excise- certain goods like tobacco and alcohol
Property- tax on value of land and buildings owned
Estate and gift- tax based on value of a persons property after death
Business or license tax- fees to drive a car, hunt, fish
Customs, duties, and tariffs- takes on goods imported from other countries.

23
Q

Types of taxes: proportional, progressive, and regressive

A

Proportional- same % taken from everyone’s income (flat tax)
Progressive- larger % taken from a higher income than from lower income- the more you make, the more they take.
Regressive- a larger % of the income of lower income people than higher income people.

24
Q

Tariff

A

Most common form of trade restriction-a tax on imported goods.

25
Q

Quota

A

Govt. limit on quantity or value of certain imported items that tend to raise consumer prices

26
Q

Embargo

A

Govt order prohibiting trade. Might be on a product or against a country

27
Q

Protectionism

A

Trade restriction to protect domestic businesses

28
Q

GATT

A

For removing trade barriers

29
Q

NAFTA

A

Allows for easier trade between the US, Canada, and Mexico.

30
Q

Vested

A

How influences impact our behavior

31
Q

Consumer

A

Us, everyone who buys a good or uses services are consuming

Consumer Ec 1 (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions