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Sem 2 Consumer Econ vocab

Housing, auto, insurance, waranty

AB
ConsumerUser/buyer
IncomeMoney coming into household
ProducerMaker /seller
RetailSell to the public
SupplyAmount available
WholesaleSelling goods in large quantities to retailers
DemandHow much do consumers want the product
Economymarket & Money system
ImportProducts coming in to be bought from other counties
ExportProducts being sent out to be bought by other counties
Landlordowner who rents out property
TentantRenter
PrincipalTotal Amount owed
MortgageLoan for a house
LeaseAgreement between landlord and tenant
AnnuallyYearly
Interest= principal x interest rate x time
BalanceTotal amount
ProhibitedNot allowed
CondominiumUnit owned in multi family building
Security depositRenter's money held by landlord to pay for possible damages
WithdrawalTake $ out
UtilitiesElectric, gas, cable, internet , water, etc.
QuantityNumber /amount
QualityHow good or correct
PerishableWill spoil
ProduceFruits and vegetables
VoidNo longer valid
ExpireStop being valid usually after a set time period
PerEach X
MinimumSmallest amount
SalaryYearly pay
Gross payAmount before deductions
Net payAmount after deductions
ReferenceOne who knows you and will vouge for you
DeductionAmount taken away
EmployerOrganization/business for whom you work
EmployeeWorker
AccurateCorrect
ConvenientEasy
DairyMilk products like chees, butter, yogurt,etc.
NegotiateMake deal
InteriorInside
ExteriorOutside
warrantypromise product is good quality
premiumamount you pay monthly or yearly for insuance coverage
deductibleamount you pay before insurance starts to pay
co-payamount paid at time of doctor visit
coverageservices your insurace will pay for
collisioncrash
liability coveragejust pays for other's car - not dmage to your own
comprehensive coveragepays for damage/ loss not caused by crash
physiciandoctor
beneficiariesthose who will benefit from your insurance


Ms. Richardson

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