Finance- Spending 1

The cost of borrowed money, usually expressed as a percentage.

• interest
• savings plan
• scarce
• purchase

Labor is generally paid

• In company stock

• Salary or Wages

Once you are "out on your own", which budget item will most likely take up the largest percentage of your income at 25-30%?

• saving

• housing

• phone bill

• Dunkin'

Which of the following is an example of income?

• Charging a lunch you will pay tomorrow

• Buying an ice cream at lunch today

• Money you get for working a job

• Trading supplies with a friend

What is investment?

• money spent on something with the goal of making more money

• money spent on other things

• money spent on saved products

Paying for something with money that is borrowed and must be paid back, usually with interest

• credit

• income

• resources

When planning a simple budget, what items would you recommend including?

• Income

• Variable Expenses

• Saving

• Fixed Expenses

• All of the above

Compound interest "creates a mathematical explosion," and it can make you wealthy over time. Choose how we can easily measure how long it might take to double our money.

• Rule of 72

• Robinhood App

• College Finance 101

The USA has a ______market, meaning we have the right to choose what we buy and produce.

• free

• rich

• low

• high

When the supply is too high, prices tend to________.

• increase
• decrease
• pay
• market