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Personal Finance 7086 Unit A Mid Term Review

AB
ProsperityA period in which individuals/businesses are financially successful and thriving
RecessionAn economic period of six months or more when growth is slowed down
Market EconomyA free enterprise system in which consumers respond to the economy as they wish
Savings RateThe amount of money people save in an economy
Financial SecurityHaving enough money saved to be able to withstand crises and emergencies
Interest RatePercentage of amount borrowed to be added to the amount loaned and paid back
InflationA period in which demand for goods/services is high and prices continue to rise
RealisticIn keeping with reality, likely to happen
GoalSomething a person intends to acquire, achieve, reach or accomplish
MoralRelated to a sense of right and wrong
StandardA measure of quality or excellence
WealthThe sum of total assets belonging to one person
Wealth AccumulationThe stage that includes the peak earning years
Basic Wealth ProtectionThe stage during which most people form a family
Wealth DistributionThe stage of retirement and wealth consumption
Expanding familyChild-bearing family
Parenting familyDeveloping family
Mid-Years familyPre-retirement family
Chain LetterA letter asking one to send several letters with money in order to, supposedly, receive money in the mail yourself
LotteryPrizes awarded by chance after purchase of a ticket


Business Education Instructor
GRANVILLE CENTRAL HIGH SCHOOL
Stem, NC

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