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Chapter 20
| Term | Definition |
|---|---|
| Consumer | Someone who buys a good or service |
| Disposable income | Money income left after all taxes on it has been paid |
| Discretionary income | Money income left after necessities have been bought and paid for |
| 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 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 borrowed to pay for a good or service |
| Annual percentage rate | Annual cost of credit expressed as a percentage of the amount borrowed |
| Collateral | Property or valuable item serving as security for a loan |
| Bankruptcy | 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 mos important |
| Return | Profit earned through 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 funds | Pools of money from many people who are invested in a selection of individual stocks and bonds chosen by financial experts |
Created by:
jaziah griffin
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