Introduction to Personal Finance
2 months ago
chabarrial_63238
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12 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    A period of temporary economic decline during which trade and industrial activity are reduced; generally identified by a fall in gross domestic product (GDP)

    answer choices

    recession

    failure

    crash

  • Question 2
    30 seconds
    Q.

    A person or business that offers loans at extremely high interest rates

    answer choices

    entrepreneur

    loan shark

    creditor

  • Question 3
    30 seconds
    Q.

    All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.

    answer choices

    Personal finance

    Economy

  • Question 4
    30 seconds
    Q.

    A person or organization that uses a product or service

    answer choices

    consumer

    borrower

  • Question 5
    30 seconds
    Q.

    A fee paid by a borrower to the lender for the use of borrowed money.

    answer choices

    bills

    interest

  • Question 6
    30 seconds
    Q.

    A system by which goods and services are produced and distributed

    answer choices

    economy

    liabilities

  • Question 7
    30 seconds
    Q.

    A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment

    answer choices

    bank fee

    loan

  • Question 8
    30 seconds
    Q.

    The knowledge and skill set necessary to be an informed consumer and manage finances effectively

    answer choices

    financial literacy

    budgeting

  • Question 9
    30 seconds
    Q.

    An obligation of repayment owed by one party to a second party

    answer choices

    debt

    ownership

  • Question 10
    30 seconds
    Q.

    The granting of a loan and the creation of debt; any form of deferred payment

    answer choices

    annual fee

    credit

  • Question 11
    30 seconds
    Q.

    Only a few people in America have the ability to become a millionaire.

    answer choices

    True

    False

  • Question 12
    30 seconds
    Q.

    Money earned

    answer choices

    spend

    income

    purchase

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