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Chapter 20 & Stuff

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
consumer   someone who buys a product or service  
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disposable income   the money that remains after taxes on it have been paid  
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discretionary income   the money remaining after paying for necessities  
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consumerism   a movement to educate buyers about the purchases they make and to demand better and safer products from manufaturers  
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comparison shopping   buying stradegy to get best buy for money  
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warrenty   the promise made by manufacture or seller to fix broken product within a time limit  
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budget   a careful record of all the money you earn and spend  
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income   the money that a person earns  
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expenses   the money one spends on everything including what one choose to saves  
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credit   borrowing money to pay for something now while promising to pay it later  
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APR   the annual cost of credit expressed as a percentage of the amount borrowed  
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collateral   property such as a house, car, or any other valuable item, that borrowers pledges as security for a loan  
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bankruptcy   the inability to pay depts  
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save   set aside income for a time so you have it for use later  
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interest   the payment that people receive when they lend money  
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principal   the amount you initially deposited  
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return   profit earned by the investor  
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stock   partial ownership in a company  
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dividend   payment of a portion of a company's earnings  
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bond   lending money to a company or government  
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mutual funds   pools of money from many people  
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impulse buying   purchasing an item pn the spot because of an emotional rather then planned decision  
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Created by: roberthowell
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