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Chapter 1 Key Terms

Authored by Jennifer Hall

Other

11th - 12th Grade

Used 3+ times

Chapter 1 Key Terms
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8 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of repayment

Consumer

Debt

Loan

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

Financial Literacy

Consumer

Economy

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person or organization that uses a product or service

Economy

Consumer

Personal Finance

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Loan

Interest

Credit

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A system by which goods and services are produced and distributed

Economy

Debt

Loan

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The granting of a loan and the creation of debt; any form of deferred payment

Credit

Debt

Loan

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Personal Finance

Economy

Financial Literacy

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