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Chapter 20 Civics
Term | Definition |
---|---|
Consumer | Someone who buys a good or service. |
Disposable Income | Money income left after all taxes on it have been paid. |
Discretionary Income | Money income left after necessities have been bought and paid for. |
Comsumerism | 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 made by a manufacturer or a seller to repair or replace a product within a certain time period if it is faulty. |
Budget | A plan for making and spending money. |
Income | Money received from labor, business, or property. |
Expense | Money spent on goods and services. |
Credit | Money barrowed to pay for a good or service. |
Annual Precentage Rate | Annual cost of credit espressed as a percentage of the amount borrowed. |
Collateral | Property or valuable item serving as security for a loan. |
Bankruptcy | Inability to pay depts, |
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 | A rule of conduct or belief. |
Return | profit earned though investing. |
Stock | Ownership share of a corporation. |
Dividend | Payment of a portion of a company's earnings. |
Bond | Contract to repay borrowed money with interest at a specific time in the future. |
Mutual Fund | Pools of money from many people who are invested in a selection of individual stocks and bonds chosen by financial experts. |
Evaluate | To assess or find the value. |
Commit | To pledge or assign oneself to a particular action. |
Eliminate | To get rid ofa whole. |