Upcoming Economics Quiz study guide

appreciating asset

• A depreciating asset is an asset that increases in value over time.
• An appreciating asset is an asset that decreases in value over time.
• Something you own that increases in value over time, such as a house

• An appreciating asset is an asset that remains constant in value over time.

depreciating asset

• A depreciating asset is not affected by time.
• Something you own that decreases in value overtime, meaning that you will get less money than what you originally paid if you sell it.

• An appreciating asset gains value over time.
• A depreciating asset remains constant in value.

down payment

• An upfront payment made when something is bought on credit; down payments are usually paid at the time of purchase (house or car)

• Payment made after the product is delivered
• Final payment made when purchasing something on credit

variable rate meaning

• A fixed interest rate
• A rate that never changes
• An interest rate on a loan or security that fluctuates over time; sometimes referred to as a floating mortgage rate.

• A rate that is always decreasing

utility expenses

• Costs associated with luxury items
• • Services - like electricity, gas, or water provided to the public; homeowners and renters pay for utility expenses separately

• Expenses related to entertainment
• Fees for optional services

title meaning

• Title meaning is the summary of the first paragraph of a text.
• Title meaning is the process of translating a title into a different language.
• Title meaning refers to the font style used in a document.
• a legal document that represents property ownership, such as for a vehicle or real estate

tenant meaning

• A person who owns land or property
• The renter of a property

• A person who sells land or property
• A person who builds land or property

Security Deposits

• An amount of money that the property owner holds onto during the lease for later use toward damages by the renter usually equal to one month's rent

• Security deposits are used to cover utility bills.
• Security deposits are paid by landlords to tenants.
• Security deposits are gifts from landlords to tenants.

mortgage

• A mortgage is a type of insurance policy.
• A mortgage is a form of investment in the stock market.
• A mortgage is a legal document used for renting a property.
• a type of loan used to finance the purchase of real estate, such as a house

repossession meaning

• the act of taking back property as allowed by law for default on a car loan or foreclosure on a house when a borrower fails to make required payments.

• The process of selling off items to pay debts
• The act of giving someone a possession again
• The act of borrowing items from someone