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Chapter 18
| Term | Definition |
|---|---|
| consumerism | a movement to educate buyers about the purchases they make and to demand better and safer products from manufactures |
| redress | payment for a wrong or loss |
| comparison shopping | the process of comparing competing products and prices in order to find the best value. |
| generic good | an item that does not have a brand name but is basically similar to a more expensive, well-known product |
| warranty | the promise made by a manufacturer or a seller to repair to replace a product within a certain time period if it is faulty |
| distinguish | to see a difference in; to seprate into caragorize |
| impulse buying | an unplanned, often emotional desion to buy |
| disposable income | money income left after all taxes on it have been paid |
| discretionary income | money income left after taxes on it have been paid and that you can choose to spend |
| budget | a plan for making and spending money |
| expense | money spent on goods and services |
| balance | amount of money left over after subtracting expense from income; money still owned on a credit card or bank loan |
| deficit | a negitive balance |
| data | factual information used for reasoning |
| credit | permission to pay later for goods or services obtained today |
| fee | the cost of a service |
| interest | the payment people or institutions recieve when they lend money or allow someone eles to use their money |
| loan | money lent at interest |
| borrower | the recipient of a loan |
| annual percentage rate | annual cost of credit expressed as a percentage of the amount borrowed |
| principal | money used to gain income |
| access | the freedom to make use of something |
| maturity | the present time at which you may withdraw funds from a certificate of deposit |
| penalty | fee for early withdrawl of funds |
| return | profit earned through investing |
| stock | shares of a company held by an investor |
| dividend | a portion of company earnings paid to shareholders |
| bond | interest-bearing certificate of agreement between a borrower and a lender |
| mutural funds | an investment company that sells stock in itself and uses the proceeds to buy stocks and bonds issued by other companies |
Created by:
GraceButler
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