Chapter 19 Personal Finances Pt 1

How do a people pay for goods and services?

• Currency

• V Bucks

• Begging

• Resources

Many people use _______________ to purchase expensive items.

• Long Term Credit

• Short Term Credit

• Insurance

• Premium

items bought on __________________ are paid off in weeks or months.

• Long Term Credit

• Short Term Credit

• Premium

• Down Payment

Legal declaration that a person or business cannot repay its debts.

• Bankruptcy

• Declaration

• Beneficiary

• Collateral

_______ lend money.

• Creditors

• Borrowers

• Taxpayers

• Parents

If you don't pay your loans. They take away your property.

• Collateral

• Damage

• Beneficiary

• Debt

Which one was made to grant home mortgage loans?

• Savings and Loans Association

• Savings Banks

• Credit Union

• Commercial Banks

Owned and operated by their members.

• Credit Union

• Savings and Loans Association

• Commercial Banks

• Savings Banks

Who regulates banks in the United States?

• The Federal Reserve System

• The President

• The Banks themselves

• Mr.Rhine

What influences the interest rates that banks charge their customers?

• How much a bank has.

• How much money a country has.

• Discounting

• Discount Rates