Dollars and Sense - Chapter 1 Vocabulary

The knowledge and skillset necessary to be an informed consumer and manage finances effectively is called __________.

• Personal Finance

• Luck

• Financial Literacy

• Money Magic

A debt evidenced by a "note", which specifies the principal amount, interest-rate and date of repayment is called a _______.

• Credit Card

• Debit Card

• Loan

• Interest

A system by which goods and services are produced and distributed is called an __________.

• Economy

• Bank

• Government

• Fast Food Restaurant

A fee paid by a borrower to the lender for the use of borrowed money; typically calculated as a percentage of the principal (original loan amount) is called _____________.

• Debt

• Credit

• Principal

• Interest

A person or organization that uses a product or service is called a ___________.

• User

• Producer

• Consumer

• Analyst

The granting of a loan and the creation of debt, or any form of deferred payment is called ___________.

• Credit

• Interest

• Finance

• Debit Card

All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc... is called _____________.

• Consumer Information

• Personal Finance

• The Economy

• Pokemon Skills

An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender.) In most cases this includes repayment of the original loan amount plus interest.

• Rent

• Credit

• Interest

• Debt

Personal finance is _______________________________.

• 50% Behavior and 50% Head Knowledge

• 30% Behavior and 70% Head Knowledge

• 20 % Behavior and 80$ Head Knowledge

• 80% Behavior and 20% Head Knowledge

True or False: According to the section called "Today's American Reality", the "normal" American family is broke.

• True

• False