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Study sets matching "consumer education"

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Study sets matching "consumer education"

12 terms
Consumer Education
alternatives
consequences
risk
opportunity cost
choices
results of a decision; can be good or bad
taking a chance; can be negative
a trade-off
alternatives
choices
consequences
results of a decision; can be good or bad
24 terms
Consumer Education
Health Consumer
Advertising
Better Business
Consumer Advocate
Someone who purchases or uses health products or services.
A written or spoken media message designed to interest consum…
A nonprofit organization owned by private businesses
People or groups whose sole purpose is to take on regional, n…
Health Consumer
Someone who purchases or uses health products or services.
Advertising
A written or spoken media message designed to interest consum…
20 terms
Consumer Education
warranty
infomercial
consumer
advertisement
A company or store's written agreement to repair a product or…
A long television commercial intended to show how a product w…
Anyone who buys goods and services.
A message designed to get consumers to buy a product or servi…
warranty
A company or store's written agreement to repair a product or…
infomercial
A long television commercial intended to show how a product w…
86 terms
Consumer Education
scarcity
wants
needs
land
not enough resources for what people want
things you desire but aren't necessary
things we must have in order to live
natural resources (factor of production)
scarcity
not enough resources for what people want
wants
things you desire but aren't necessary
100 terms
Consumer Education
Values
Goals
Life Cycle
Long-term goals
Standards by which you live
Things you wish to accomplish
Important events in your life
Wish to achieve over a period of years
Values
Standards by which you live
Goals
Things you wish to accomplish
28 terms
Consumer Education
advertising
alternatives
attitude
budget
a message to persuade consumers to purchase a particular prod…
the different choices you can make to deal with a situation
a persons basic outlook on life or a specific topic or issues
an orderly program for spending, saving, and investing the mo…
advertising
a message to persuade consumers to purchase a particular prod…
alternatives
the different choices you can make to deal with a situation
120 terms
Consumer Education Final Review
progressive tax
regressive tax
W-4
W-2
tax amount is a bigger percentage as income rises.
tax amount is a smaller percentage as income rise.
form completed by worker used to determine how much income ta…
prepared by employer to summarize worker earnings and total t…
progressive tax
tax amount is a bigger percentage as income rises.
regressive tax
tax amount is a smaller percentage as income rise.
40 terms
Consumer Education
Budgeting is:
It is important to be organized in bud…
When budgeting, it is recommended that…
The most common type of bank accounts…
A plan for saving & spending money
You know where your money is going
10% of your income
Checking accounts
Budgeting is:
A plan for saving & spending money
It is important to be organized in bud…
You know where your money is going
30 terms
Consumer Education
Profits
Receiving Checks
ATM
PIN
Banks achieve with financial services
Can cash or deposit
Automatic Teller Machine withdraw funds from
# used to receive cash at on ATM
Profits
Banks achieve with financial services
Receiving Checks
Can cash or deposit
29 terms
Consumer Education Chapter 1
economy
free enterprise system
law of scarcity
trade-off
The structure of production, distribution, and consumption of…
An economy in which privately owned businesses operate and co…
An economic concept meaning that your unlimited wants all fig…
The choice of one item while giving up another.
economy
The structure of production, distribution, and consumption of…
free enterprise system
An economy in which privately owned businesses operate and co…
Consumer Education IH
Computer Storage... Almacenamiento de la…
Stock Symbol... Simbolo bursatil para com…
Retailer... Negocio Minorista
Sales Revenue... Ingresos por ventas
device that saves data.
the letters used to identify listed companies on the securiti…
A business that sells goods or services directly to the public.
Amount made from what a company sells
Computer Storage... Almacenamiento de la…
device that saves data.
Stock Symbol... Simbolo bursatil para com…
the letters used to identify listed companies on the securiti…
19 terms
Consumer education
Money management
Safe-Deposit Box
Home computer
The day yo day financial activities necessary to get the most…
Small storage that can be rented in a bank
Scan & save its on computer
Money management
The day yo day financial activities necessary to get the most…
Safe-Deposit Box
Small storage that can be rented in a bank
33 terms
Consumer Education
Risk
Emergency Savings
Insurance
Policy
Chance of loss from an event that cannot be entirely controlled
At least six months of expenses set aside to cover costs of u…
Transfers risk from an individual to an insurance organization
A contract that specifies what risks are covered and how much…
Risk
Chance of loss from an event that cannot be entirely controlled
Emergency Savings
At least six months of expenses set aside to cover costs of u…
10 terms
Consumer Education Chapter 1
Consumer
Goods
Services
Marketplace
Someone who uses goods or services
Physical objects that are produced for consumers
Actions that are per-formed for someone
All of the goods and services available for sale to the gener…
Consumer
Someone who uses goods or services
Goods
Physical objects that are produced for consumers
52 terms
Consumer Education
consumer
Career
Job
employee's union
A person who buys goods and services in the market place
long-term employment
short-term employment
An organized group of employees joined together to negotiate…
consumer
A person who buys goods and services in the market place
Career
long-term employment
10 terms
Consumer Education
Liquidy
Equity
Credit management
Net worth
The amount of readily available cash a oerskn had on hand mee…
The dollar amount of ownership a person oh as in a thing, suc…
Making decision about getting and using credit
The total assets minus total liabilities of an individual
Liquidy
The amount of readily available cash a oerskn had on hand mee…
Equity
The dollar amount of ownership a person oh as in a thing, suc…
20 terms
consumer education
Priorities
needs
wants
values
judgment about the relative importance of alternatives
things you must have in order to live
things you desire but that are not needed to live
strongly held beliefs and principles about what is worthwhile
Priorities
judgment about the relative importance of alternatives
needs
things you must have in order to live
13 terms
Consumer Education
Gross income
net income
payroll taxes
withholdings
the amount you earn before taxes are withheld
the amount you recieve after withholdings are subtracted from…
texes based on the payroll of a business
what your employer collects from your paycheck
Gross income
the amount you earn before taxes are withheld
net income
the amount you recieve after withholdings are subtracted from…
84 terms
Consumer Education
Industry
Dow Jones
S & P 500
Dividend
Stocks from one area
30 most popular stocks
500 most popular stocks
A piece of the profits the companies make when you have stock
Industry
Stocks from one area
Dow Jones
30 most popular stocks
38 terms
Consumer Education
Annual Percentage Rate
Closed-End Credit
Collateral
Compound Interest
The cost of credit for one year, expressed as a percentage.
Credit you use once, such as an installment loan to buy a car.
Savings accounts, insurance policies, bonds or other property…
Interest earned on interest plus principal.
Annual Percentage Rate
The cost of credit for one year, expressed as a percentage.
Closed-End Credit
Credit you use once, such as an installment loan to buy a car.
63 terms
Consumer Education
Consumer
Goods
Services
Marketplace
Is someone who uses goods and services
Are physical objects that are produced
Are actions that are performed for someone
All the goods and services availale for sale to the general p…
Consumer
Is someone who uses goods and services
Goods
Are physical objects that are produced
13 terms
Consumer Education
term
payday loan
comprehensive physical damage
secured credit
a period of time during which money must be kept on deposit
...
...
...
term
a period of time during which money must be kept on deposit
payday loan
...
90 terms
Consumer Education
economic votes
opportunity cost
inflation
equilibrium
people cast these when they purchase a consumer product/servi…
this is what you give up when you buy a product or a service.
when prices go up and the dollar will buy less, it is called…
when the demand for an item is equal to its supply, the _____…
economic votes
people cast these when they purchase a consumer product/servi…
opportunity cost
this is what you give up when you buy a product or a service.
60 terms
Consumer education
Wages
Salary
Piecework
Commission
Are an employees earning that are paid by the hour,day or item
A set amount of money earned by an employee per year
Work for which wages are based on the number of items or or p…
A fixed percentage or amount of profit given to an employee i…
Wages
Are an employees earning that are paid by the hour,day or item
Salary
A set amount of money earned by an employee per year
175 terms
Consumer Education
Economics
What are the three different economies?
What is the basis of the study of econ…
Need
a social science that analyzes the production, distribution,…
traditional... market... command
we have unlimited and limited resources
- something you have to have ... - something you can't do withou…
Economics
a social science that analyzes the production, distribution,…
What are the three different economies?
traditional... market... command
11 terms
Consumer Education
Grace Period
APR
What is a co-signer?
Garnishment
Period of time during which the balance may be paid in full t…
(Annual Percentage Rate) The annual rate of interest that is…
A person with a strong established credit history who signs t…
Legal withholding of a specified sum from a person's wages i…
Grace Period
Period of time during which the balance may be paid in full t…
APR
(Annual Percentage Rate) The annual rate of interest that is…
10 terms
Consumer Education
Consumers
Traders
A contract
A brand name
Buy goods for their personal use
Buy good to resell them
A legal binding agreement
Is a unique name given to a product to distinguish the produc…
Consumers
Buy goods for their personal use
Traders
Buy good to resell them
59 terms
Consumer education
Compound interest
Emergency Fund
Interest rate
Five Foundations
Interest paid on interest previously earned
$500 dollars in available cash in case of emergency
Percentage paid to a lender for us of borrowed money.
The five steps to financial success
Compound interest
Interest paid on interest previously earned
Emergency Fund
$500 dollars in available cash in case of emergency
Consumer Education
Mixed Economy
Command Economy
Traditional Economy
Market Economy
An economy in which private enterprise exists in combination…
An economic system in which the government controls a country…
An economy in which production is based on customs and tradit…
Economic decisions are made by individuals or the open market.
Mixed Economy
An economy in which private enterprise exists in combination…
Command Economy
An economic system in which the government controls a country…
61 terms
Consumer Education
Gross Income
Net Pay
W4
W2
The amount you make before taxes are taken out is called?
The amount you make after taxes are taken out is called?
You fill this out when you get a job?
This helps you with your taxes. Must be mailed before January…
Gross Income
The amount you make before taxes are taken out is called?
Net Pay
The amount you make after taxes are taken out is called?
43 terms
consumer Education
Diversification
Dividend
Brokerage Firm
Capital Gain
Distributing funds among a variety of investments to minimize…
Portion of a company's profits paid to the owners
A company that specializes I helping people buy and sell stoc…
Profit earned from selling stock at a higher price than you p…
Diversification
Distributing funds among a variety of investments to minimize…
Dividend
Portion of a company's profits paid to the owners
19 terms
consumer Education
stock exchange
stock broker
brokerage firm
NYSE
where stock transaction take place
A person who you pay to buys and sells stocks
company that you pay to help buy and sell stocks
New York Stock Exchange
stock exchange
where stock transaction take place
stock broker
A person who you pay to buys and sells stocks
39 terms
Consumer education
Ho-3 the special form
Personal property
Appraisal
Supplement liability coverage
The most common form or home insurance
The tenants for (ho-4) covers only renters..
Calculating the cost of replacing a hone and it'd contents re…
An umbrella policy is designed to
Ho-3 the special form
The most common form or home insurance
Personal property
The tenants for (ho-4) covers only renters..
40 terms
Consumer Education
Budget is:
It is important to be organized in bud…
when budgeting it is recommended that…
the most common type of banking accoun…
a plan to save money
you know where your money is going
10%
checking account
Budget is:
a plan to save money
It is important to be organized in bud…
you know where your money is going
221 terms
Consumer Education Final
FTC
CPSC
USDA
FDA
Federal Trade Commission: enforces lows against dishonest adv…
Consumer Product Safety Commission: works to protect the publ…
United States Department of Agriculture: inspects and sets st…
Food and Drug Administration: enforces laws and regulations o…
FTC
Federal Trade Commission: enforces lows against dishonest adv…
CPSC
Consumer Product Safety Commission: works to protect the publ…
16 terms
Consumer education chapter 1
Equilibrium price
Supply
Demand
Scarcity
Price at which the quantity supplied exactly equals the quant…
Quantity of a product that producers are willing and able to…
Quantity of a good or service that consumers r willing n able…
The situation in which consumers wants are greater than the r…
Equilibrium price
Price at which the quantity supplied exactly equals the quant…
Supply
Quantity of a product that producers are willing and able to…
16 terms
Consumer education chapter 1
Equilibrium price
Supply
Demand
Scarcity
Price at which the quantity supplied exactly equals the quant…
Quantity of a product that producers are willing and able to…
Quantity of a good or service that consumers r willing n able…
The situation in which consumers wants are greater than the r…
Equilibrium price
Price at which the quantity supplied exactly equals the quant…
Supply
Quantity of a product that producers are willing and able to…
20 terms
Consumer Education & Economics - Ch. 8
Salary
Wages
Piecework
Commission
a set amount of money earned by an employee per year or other…
employee earnings that are paid by the hour, day, or item
work for which wages are based on the number of items or piec…
a fixed percentage or amount of profit given to an employee i…
Salary
a set amount of money earned by an employee per year or other…
Wages
employee earnings that are paid by the hour, day, or item
22 terms
Chapter 15 - Consumer Education
Caveat emptor
Caveat venditor
Food and Drug Administration
United States Department of Agriculture
"Let the Buyer Beware" - this is a philosophy in which the bu…
"Let the Seller Beware" this is a philosophy in which the sel…
this is the oldest comprehensive consumer protection agency i…
this government agency is responsible for inspecting and grad…
Caveat emptor
"Let the Buyer Beware" - this is a philosophy in which the bu…
Caveat venditor
"Let the Seller Beware" this is a philosophy in which the sel…
20 terms
Consumer Education Terms
Sinking fund
Interest
Credit
Debt
funds that is being used to wipe out other expenses.
a fee paid by a borrower to the lender for the use of borrowe…
The granting of a loan and the creation of a debt; or any for…
An obligation of repayment owed by one party to a second party
Sinking fund
funds that is being used to wipe out other expenses.
Interest
a fee paid by a borrower to the lender for the use of borrowe…
114 terms
Consumer Education Final Exam
What is 1040?
What is 401(k)
What is 403 (b)
Account Credit
A simplified version of the 1040 form for individual income t…
a tax-deferred retirement plan funded by regular contribution…
a tax-deferred retirement plan for employees of public school…
An accounting entry that either decreases assets or increases…
What is 1040?
A simplified version of the 1040 form for individual income t…
What is 401(k)
a tax-deferred retirement plan funded by regular contribution…
10 terms
Consumer Education Chapter 2 & 3
Opportunity Cost
Critical Thinking
Bias
Resource
The value of the best alternative you give up when you decide…
Applying reasoning strategies in order to make sound decisions.
A preference that might prevent impartial judgment.
Anything that is useful or helpful in the process of achievin…
Opportunity Cost
The value of the best alternative you give up when you decide…
Critical Thinking
Applying reasoning strategies in order to make sound decisions.
98 terms
Consumer Education Final Exam
Scarcity
Wants
Needs
Factors of Production
An economic principle stating that because of limited resourc…
Enhance your life
Required for survival
Land, Labor, Capital, and Entrepreneurship
Scarcity
An economic principle stating that because of limited resourc…
Wants
Enhance your life
27 terms
Chapter 3 consumer education
Career plan
Career ladder
Aptitudes
Abilities
An outline of the steps you take to reach a career goal
Outline of the jobs in a given career field which are availab…
Natural physical and mental talents
Physical and mental skills developed through learning,trainin…
Career plan
An outline of the steps you take to reach a career goal
Career ladder
Outline of the jobs in a given career field which are availab…
13 terms
Chapter 2 consumer education
Market economy
Command economy
Standard of living
Productivity
A system where individuals and businesses respond freely to t…
The state or some other authority is in control of economic a…
The total amount and quality of goods and services you can af…
Amount of goods and services created for each hour on the job
Market economy
A system where individuals and businesses respond freely to t…
Command economy
The state or some other authority is in control of economic a…
24 terms
Chapter 14 Consumer education
Liabillity
insurance
policy
exclusions
Legal responsibility to pay someone who has suffered an injur…
purchased protection that guarantees to pay you in the event…
the written agreement between the policyholder-- the consumer…
specific risk not covered by a policy, such as normal war and…
Liabillity
Legal responsibility to pay someone who has suffered an injur…
insurance
purchased protection that guarantees to pay you in the event…
91 terms
Consumer Education Test 1
What percent of purchased products go…
Consumerism
Adam Smith
Service
12
The belief that goods give meaning to individuals and their r…
founder of modern economics
Intangible actions like work done to satisfy or provide for o…
What percent of purchased products go…
12
Consumerism
The belief that goods give meaning to individuals and their r…
76 terms
Consumer Education Final
grant
royalty
inheritance
social security
payments on property that are given to people or institutions…
a percentage of the sales in dollars paid to an author, songw…
an amount of money, property, or an object of value, given by…
the federal program that people pay into while they are worki…
grant
payments on property that are given to people or institutions…
royalty
a percentage of the sales in dollars paid to an author, songw…
20 terms
Chapter 2 Consumer Education and Economics
Priorities
Needs
Wants
Values
judgments about the relative importance of alternatives
things you must have in order to live
things you desire but that are not necessary to live
strongly held beliefs and principles about what is worthwhile
Priorities
judgments about the relative importance of alternatives
Needs
things you must have in order to live
64 terms
Consumer Education Final Review
Covers damage to your automobile when…
Covers damage to other persons propert…
Covers injuries to you and persons in…
Covers injuries to those people you hi…
Collision
Property Damage
Medical Payments
Bodily Injury
Covers damage to your automobile when…
Collision
Covers damage to other persons propert…
Property Damage
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