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Dave Ramsey

Foundations in Personal Finance Middle School Edition Pre-Test/Post-Test

QuestionAnswer
A liability can be described as Something you owe; a debt
Which allows invested money to grow over time? Compound Interest
A plan for spending is called a(n) Budget
A fee that a bank, credit card company, or other lender charges for the opportunity to purchase something and pay for it over time. Interest
The FICO score measures what? Debt history, Types of debt, New debt
Non-wage compensation provided by your employer is known as Employee benefits
The amount of money you get paid after taxes are taken out is called take-home pay
Money taken out of your paycheck for taxes is called Withholding
Represent small pieces of ownership in a company Stocks
In which of the following should you keep your emergency fund Money market account
The money you pay for an insurance policy is called you Premium
Which of the following types of insurance would cover your costs associated with a car accident Auto
An economic system based on the private ownership of business and the products made and sold is called a Market economy
An economic system in which the government owns, controls, and regulates all aspects of production, trade, and income generated by the most valuable resources is called a Command economy
A market economy is driven by the economic principle of Supply and demand
The monetary value of all goods and services produced in a country in a year is called Gross domestic product
The interaction between the various countries of the world is called Globalization
What is an example of an economic incentive? Online sales or discounts
Everything a company does to get consumers to buy their product is called Marketing
A person who buys things is called a Consumer
Created by: NancBradl