1.12 Unit Test: Personal Finance, Part 1
which is the opposite of a generic good
A brand-name good
Which of these can be used to protect consumers from unsafe products
A recall
A socially responsible consumer might boycott a company that uses what
Child labor
which of these statements describes the cost and benefits of taking a college loan
College loans help increase future earning power but result in a long-term commitment to monthly payments
why might a letter writing campaign get a company to change its business practices
The company might fear that the letter writing campaign will become a boycott if it doesn't respond
what is the grace period on a credit card
The number of days the customer can wait to pay for purchases without being charged interest
what do leases contain
The obligations of renters and landlords
which of these statements describes one of the opportunity cost of attending college
Time spent on school work takes away from the chance to earn money at a job
which of these shows how a loan is paid by listing the principle and interest associated with each payment
an amortization table
which of these allow someone to buy a car that cost more than he or she can afford
car loan
Which of these fees is the biggest problem for customers who need to use the credit card to take money from an ATM
cash advance fee
what do banks pay to their savings account customers
interest
which would cause a boycott to fail
most consumers didn't stay away from the company
Which of these is made easier by maintaining a good credit history
obtain a loan
why do consumers have influence over politicians
politicians rely on consumers votes to keep them in office
which step in the budget making process is the best way to offset an unexpected financial obligation
reduce expenses and flexible categories
Which of these is an example of a fixed expense
rent
because subjective decisions are based on a persons unique values and believes which statement is true about economic decisions
they vary from person to person
why do some auto insurance customers want medical coverage for their policies
to avoid having to pay for hospital bills resulting from an accident they cause
What is the main reason to use a personal budget
to stay out of debt
under what circumstances do people have to make a co-pay
when they go to a doctor because of an illness
what makes a checking account more convenient than a savings account
you can spend your money without having to withdraw cash first
in which situation with disability insurance be useful
you lose your job because of an injury or illness
What makes a credit card more convenient than a debit card
It can be used to buy things without immediate payment
with which type of account is a mortgage payment associated
Home loan
