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Personal Finance 6

vocabulary review

TermDefinition
liquidity the quality of being easily converted to cash
market the process through which buyers and sellers exchange with one another
market confidence understanding value and quality of a product or services in the planning purchases
market economy an economic system where both producers and consumers play an active role in determining what is produced and sold and at what price
maturity the time when a corporation repays borrowed money
maturity date the date on which you must renew a certificate, cash it in, or purchase a new certificate;
money market account a bank deposit that pays interest and that allows a saver to withdraw money at will, often by writing checks
money market fund a combination savings-investment plan in which the deposit holder(brokerage firm) invests your money in a variety of financial instruments
monopoly a situation where there is only one producer of a product or service
municipal bonds bond issued by state and local government units. Earnings are tax -free
NASDAQ National Association of Securities Dealers Automated Quotation system is an important part of the over the counter market
Net income a company's revenue minus its expenses. Net income is also called earnings or profits
NYSE the New York Stock Exchange, which is one of the organized stock markets in the US
no-load mutual fund mutual funds that do not charge commissions. However, there are annual maintenance charges and service fees
Open-ended credit credit where the lender places a limit on how mush a qualifying customer can borrow during a given period
over-the-limit fee a charge imposed on some credit accounts for spending more than your credit limit
overdraft (or NSF not-sufficient funds check) a check written without sufficient money in an account to cover it
past due the status of a bill when the minimum payment has not been received by the due date
penny stock stocks that sell for less than $5 per share
Personal Identification Number (PIN) a four digit code that allows you to make deposits and withdrawals with your ATM (Automated Teller Machine) card
posting date the date that a purchase, cash advance, fee, services charge or payment is recorded on you charge or credit account
principal the total amount that is financed or borrowed and on which interest is compounded
recession economy slows down and manufacturers slow production (there are layoffs); an economic downturn of two or more quarters
revolving credit a credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card.
saving setting aside income or money for future spending
savings bond an interest-bearing certificate purchased at a bank. The face value includes interest and the full amount is paid upon maturity
secured credit card a consumer uses savings or other collateral to guarantee the credit card; the line of credit is based on the amount of collateral
Created by: SusieQ60