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Chap. 20

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Consumer   Someone who buys a good or service  
Disposable Income   Money income left after all the taxes on it have been paid  
Discretionary Income   Money left over 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   A buying strategy to get the best buy for the money  
Warranty   The promise made by a manufacturer or 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 (APR)   The annual cost of credit expressed as a percentage of the amount borrowed  
Collateral   A property or valuable item serving as security for a loan  
Bankruptcy   The 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  
Pricipal   A rule of conduct or belief  
Return   Profit earned through investing  
Stock   Ownership share of a corporation  
Dividend   The payment portion of a company's earnings  
Bond   A contract to repay borrowed money with the interest at a specific time in the future  
Mutual Fund   Pools of money from many people who are invested in a selection of individual stocks and bonds chosen by financial experts  
Impulse Buying   The act of purchasing an item on the spot because of an emotional rather than planned decision  


   


 
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