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Chap. 20

CONSUMER Or someone who buys a product or service.
DISPOSABLE INCOME The money that remains after all taxes on it have been paid.
DISCRETIONARY INCOME the money reamining after paying for necessities.
CONSUMERISM A movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers.
COMPARISON SHOPPING Buying strategy to get best buy for the money.
WARRANTY The promise of a manufacturer or a seller to repair or replace a faulty product with in a certain time period.
BUDGET A careful record of all the money you earn and spend.
INCOME The money you earn.
EXPENSE The money you spend on everything, including what you choose to save.
CREDIT Borrowing money to pay for something now while promising to repay it later.
ANNUAL PERCENTAGE RATE (APR) The annual cost of credit expressed as a percentage of the amount borrowed.
COLLATERAL Property, such as a house, car, or other valuable item, that a borrower pledges as security for a loan.
BANKRUPTCY The inability to pay debts.
SAVE To set aside income for a period of time so that it can be used later.
INTEREST The payment people receive when they lend money, or allow someone else to use their money.
PRINCIPAL The amount you initially deposited.
RETURN Profit earned by the investor, is usually low.
STOCK Ownership share of a corporation.
DIVIDEND Payment of a portion of a company's earnings.
BOND Lending money to a company or goverment.
MUTUAL FUND Pools of money from many people.
IMPULSE BUYING Purchasing an item on the spot beacuse of an emotional rather than planned decision.
Created by: ILIANAE