Personal Finance

1. Personal Finance Exam review: Definitions

2. Economics • Amount of money to be paid by a person before insurance benefits are assessed. • An obligation for funds borrowed. • The study of production, distribution & consumption of goods & services. • The cost required in exchange for some benefit or service.

3. C. The study of production, distribution & consumption of goods & services.

4. Deflation a. An obligation for funds borrowed. b. The study of production, distribution & consumption of goods & services. c. The cost required in exchange for some benefit or service. d. Decrease in the general price level of goods & services typically caused by a reduction in the supply of money.

5. d. Decrease in the general price level of goods & services typically caused by a reduction in the supply of money.

6. Equilibrium Price • Cost of an insurance policy. • Exchange of money for the purpose of a future gain. • Point at which quantity demanded equals the quantity supplied. • Investment in society to improve people & circumstances that could not create the investment themselves.

7. Point at which quantity demanded equals the quantity supplied.

8. Disposable Income • Amount remaining to spend or save after all financial obligations are satisfied. • Cost of an insurance policy. • Exchange of money for the purpose of a future gain. • Point at which quantity demanded equals the quantity supplied.

9. Amount remaining to spend or save after all financial obligations are satisfied.

10. Debts • Amount of money to be paid by a person before insurance benefits are assessed. • An obligation for funds borrowed. • The study of production, distribution & consumption of goods & services. • The cost required in exchange for some benefit or service.

11. An obligation for funds borrowed.

12. Budgeting • Point at which quantity demanded equals the quantity supplied. • Investment in society to improve people & circumstances that could not create the investment themselves. • Amount of a deposit into a retirement account. • Process of managing income & expenses to accomplish a specific purpose.

13. Process of managing income & expenses to accomplish a specific purpose.

14. Expenses • Amount of money to be paid by a person before insurance benefits are assessed. • An obligation for funds borrowed. • The study of production, distribution & consumption of goods & services. • The cost required in exchange for some benefit or service.

15. The cost required in exchange for some benefit or service.

16. Investment • Amount remaining to spend or save after all financial obligations are satisfied. • Cost of an insurance policy. • Exchange of money for the purpose of a future gain. • Point at which quantity demanded equals the quantity supplied.

17. Exchange of money for the purpose of a future gain.

18. Portfolio • Decrease in the general price level of goods & services typically caused by a reduction in the supply of money. • Financial approach to calculate past, current & future values. • Group of financial vehicles held by an individual. • Amount remaining to spend or save after all financial obligations are satisfied.

19. Group of financial vehicles held by an individual.

20. Contribution • Point at which quantity demanded equals the quantity supplied. • Investment in society to improve people & circumstances that could not create the investment themselves. • Amount of a deposit into a retirement account. • Process of managing income & expenses to accomplish a specific purpose.

21. Amount of a deposit into a retirement account.

22. Premium • Cost of an insurance policy. • Exchange of money for the purpose of a future gain. • Point at which quantity demanded equals the quantity supplied. • Investment in society to improve people & circumstances that could not create the investment themselves.

23. Cost of an insurance policy.

24. Deductible • Amount of money to be paid by a person before insurance benefits are assessed. • An obligation for funds borrowed. • The study of production, distribution & consumption of goods & services. • The cost required in exchange for some benefit or service.

25. Amount of money to be paid by a person before insurance benefits are assessed

26. Philanthropy • Point at which quantity demanded equals the quantity supplied. • Investment in society to improve people & circumstances that could not create the investment themselves. • Amount of a deposit into a retirement account. • Process of managing income & expenses to accomplish a specific purpose.

27. Investment in society to improve people & circumstances that could not create the investment themselves.

28. Time Value of Money • The study of production, distribution & consumption of goods & services. • The cost required in exchange for some benefit or service. • Decrease in the general price level of goods & services typically caused by a reduction in the supply of money. • Financial approach to calculate past, current & future values.

29. Financial approach to calculate past, current & future values.