Foundations in Personal Finance Chapter 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Personal Finance | All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.
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| Consumer | A person or organization that uses a product or service
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| Economy | A system by which goods and services are produced and distributed.
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| Debt | An obligation of repayment owed by one party (the debtor) to a second party (creditor) in most cases this includes repayment of the original loan amount plus interest
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| Loan | A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment
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| Financial Literacy | The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
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| Interest | A fee paid by a borrower to the lender for the use of borrowed money
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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