| A | B |
|---|
| what you hope to achieve 5-10 years or longer | long-term goal |
| small business that grows to be a corporation | venture |
| working for yourself | self employed |
| business in addition to your full time job | side business |
| Statement attesting to your personal character and work ethic | reference |
| You can find this on a resume... | the applicant's contact info; character reference; past work experience |
| The amount of money you get to take home in a check | net pay |
| Absenteeism is best defined as | a problem with people not showing up for work |
| When a group of people work in the same of similar professions, this is called a(n) | union |
| a flat tax where the tax is the same regardless of income | proportional tax |
| a tax that takes a larger share of income as income grows | progressive tax |
| a payment imposed by a governmental unit | tax |
| willful failure to pay ones taxes | tax evasion |
| If you are of age and make a certain amount of money you need to... | file taxes on the income made |
| Tax money goes towards which of the following | public school teachers' salaries |
| a bank card that deducts money from a checking account almost immediately after purchase | debit card |
| If you cannot afford something that you want, what is your BEST course of action? | wait until you have enough cash or money in your account to buy it |
| You may have to write a check if... | the place you are paying does not accept card or cash; you would like your purchase to be easily recorded; you are paying someone else a large amount of money and would like it to be recorded |
| the use of someone else's money with the agreement to pay it back later | credit |
| a person who borrows money from others | debtor |
| the property pledged to assure repayment of a loan | collateral |
| a timeframe where you are not accruing interest but can pay on your loans | grace period |
| a disadvantage of credit is | fees and finance charges; potential; identity theft of less buying power in future |
| When you are paying back a loan you will have to repay more than what you borrowed because of... | interest |
| Why would someone freeze their credit? | they suspect fraud |
| Your credit score can be configured by | payment history |
| You can improve your credit score by... | making timely payments on loans |
| a form of federal financial aid for which you pay no interest until you have completed your education or drop out | subsidized loan |
| starts accruing interest as soon as you use the money to pay for tuition | unsubsidized loan |
| when money is electronically deposited into your account | direct deposit |
| program that permits students to work jobs on campus | work study |
| A loan that is borrowed from the government is called | federal loan |
| a type of interest rate that you want to AVOID because it tends to change (go up or down) with market trends | variable interest rate |
| items of value that a person owns | assets |
| money or debts owed to others | liabilities |
| something that helps you keep track of income and expenses | budget |
| the value of your first choice | opportunity cost |
| an opinion or value held by a big group of people | collective value |
| an innate pressure on consumers to buy something | social pressure |
| something you desire outside of your basic needs | want |
| your tastes; likes and dislikes are considered... | personal values |
| an expense that occurred in the past for which money was spent and cannot be recovered | sunk cost |
| the person who is/wants to rent | tenant |
| rental property's owner | landlord |
| aka a month to month agreement | rental agreement |
| protects the owner from costly mechanical repairs | car warranty |
| an alphanumeric number that identifies each vehicle manufactured or sold in the U.S. | VIN number |
| a warranty to cover costs of expensive repairs and defects not covered in the standard warranty | extended warranty |
| manufacturer's retail price (MSRP) | sticker price |
| If you cannot afford a new car, your best option is.. | buy a used car and buy it outright (pay it off right away) |
| the BEST place to find used cars is... | Facebook Marketplace |
| It can cost around _____ to have a baby without insurance (labor and delivery). | $10,000 |
| Writing out wills, planning funeral services and more can fall under the category of... | end of life care |
| If you have a child with someone who you are separated from, you may be ordered to... | pay child support |
| state of uncertainty where certain situations may result in loss or another undesirable outcome | risk |
| a specified amount of loss that the insured must pay | deductible |
| specified amount that the insured must pay for each doctor or hospital visit | copayment |
| method for spreading individual risk among a large group of people to make it more affordable for all | insurance |
| Taking risks is... | something that can turn out to be a positive or negative thing |
| Bad weather damaged your personal property. It is okay though, because you have THIS type of insurance to help recover the financial loss... | property insurance |
| Medicaid is best defined as... | health insurance that the government provides to those who make under a certain amount of money annually |
| With a high deductible health plan (HDHP), an HSA account is often offered. HSA is the acronym for | health savings account |
| *Read the following information. Then decide how much money Mrs. Buck owes for breaking her leg. -Mrs. Buck has an HDHP insurance plan with a deductible of $6,000 a year. -Mrs. Buck broke her arm in June of 2024. Expenses came out to $4,200. -Mrs. Buck broke her other arm in November of 2024. Expenses came out to $1,000. -Mrs. Buck broke her leg in December of 2024. | $800 |
| taking long-term money and growing it over time. | investing |
| risks that are uncontrollable and unpredictable. | non-market risks |
| a house bought with the intent of cleaning it up for resale | fixer-upper house |
| a small piece of a company that you can buy and own | stock |
| A retirement fund of sorts that companies often offer employees; sometimes companies will match the cash amount that employees put into it. | 401(k) |
| Name a faster way to accrue money than to put savings away little by little. | investing (in stock, real estate, etc.) |
| Bait and switch can best be defined as... | illegal sales technique where a seller advertises a cheap product to persuade customers to buy a more expensive product |
| Duke Energy is the ONLY energy company/provider in the Terre Haute area. No other business offers the people what they do, and therefor they have no competition. Duke Energy can be labeled as a legal... | monopoly |
| The value of your first choice is called a(n)... | opportunity cost |
| Find the lie. | Mrs. Buck's favorite holiday is Christmas. |
| Find the lie. | We learned about (business related) false imprisonment in this class |
