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PCS - PF ch 1

Personal Finance vocab

TermDefinition
consumer person or organization that buys or uses goods or services
debt an obligation of repayment owed by a borrower to a lender
economy a system by which goods and services are produced and distributed
interest a fee paid by a borrower to the lender for the use of borrowed money
loan debt that specifies principal amount, interest and date of payment
financial literacy the knowledge and skill set necessary to be an informed consumer and manage finances effectively
Created by: cboula