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- 1. Multiple Choice
A person or organization that uses a product or service
Consumer
Debt
Company
Personal Finance
- 2. Multiple Choice
The granting of a loan and the creation of debt; any form of deferred payment
Layaway
Credit
Financial Literacy
Bank
- 3. Multiple Choice
An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest
Credit Card
Credit
Debt
Banker
- 4. Multiple Choice
A system by which goods and services are produced and distributed
Economy
Bank
Credit
Loan
- 5. Multiple Choice
The knowledge and skillset necessary to be an informed consumer and manage finances effectively
Budgeting
Financial Literacy
Personal Finance
Credit
- 6. Multiple Choice
A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
Interest
Equity
Loan
Credit
- 7. Multiple Choice
A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of repayment
Loan
Debt
Contract
Bank
- 8. Multiple Choice
All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.
Decisions
Budgeting
Personal Finance
Loan
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