
Unit 2 Ch. 3 Review
Authored by Emily Close
Social Studies
12th Grade
Used 5+ times

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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability to borrow money or access goods or services with the understanding that you'll pay later
Credit
Debt
Creditor
Credit Report
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lenders, merchants and service providers who grant credit based on their confidence you can be trusted to pay back what you borrowed, along with any finance charges that may apply
Loan
Debt
Creditor
Credit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money you owe to creditors
Interest
Debt
Principal
Credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The money charged for borrowing
Credit
Loan
Interest
Principal
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The initial size of a loan
Principal
Debt
Interest
Credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Items and services are paid for in a single payment, within a given time period, after the purchase; Interest is usually not charged
Installment Credit
Revolving Credit
Single Payment Credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Merchandise and services are paid for in two or more regularly scheduled payments of a set amount; interest is included
Revolving Credit
Installment Credit
Single Payment Credit
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