Personal Finance and Economics Essentials

Personal Finance and Economics Essentials

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Joel Mathew

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

Personal Finance

Back

Management of individual or family financial activities, including budgeting, saving, and investing.

2.

FLASHCARD QUESTION

Front

Opportunity Cost

Back

The value of the next best alternative foregone when making a decision.

3.

FLASHCARD QUESTION

Front

Compound Interest Formula

Back

A = P(1 + \frac{r}{n})^{nt}, where A is the amount, P is the principal, r is the rate, n is the number of times interest applied per time period, t is the time.

4.

FLASHCARD QUESTION

Front

Budgeting

Back

The process of creating a plan to spend your money.

5.

FLASHCARD QUESTION

Front

Inflation

Back

The rate at which the general level of prices for goods and services rises, eroding purchasing power.

6.

FLASHCARD QUESTION

Front

Risk and Return

Back

The principle that potential return rises with an increase in risk.

7.

FLASHCARD QUESTION

Front

Diversification

Back

A risk management strategy that mixes a wide variety of investments within a portfolio.

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