Economics Credit and Debt

Front

When an asset loses value over time, that's:

Back

Depreciation

Front

The amount of time you have to pay back a loan is called the ______ of the loan.

Back

Term

Front

A ________________ is a number that indicates the likelihood of someone repaying debt.

Back

Credit Score

Front

Something used as security for a debt is called:

Back

Collateral

Front

When an item is worth less than what you owe on it, you have:

Back

Negative Equity

Front

Kind of credit that is repaid with fixed monthly payments:

Back

Installment

Front

Kind of credit that is paid monthly but has varying amounts due based on amount owed:

Back

Revolving

Front

Which of the following is NOT a credit incentive? 0% Interest, 1.5% Cash Back, 10% Discount, 0 Payments for 6 months

Back

10% Discount

Front

The top four credit card companies spend $4 Billion/year on ___________.

Back

Marketing

Front

Consumer credit is a: Product, Security, Service, Benefit

Back

Product