WEEK 8 PERSONAL FINANCE <33 !!!
When you have towing and emergency road service coverage on your automobile insurance policy, what are some of the typical expenses your insurance company will pay or reimburse you for? Choose all possible answers.
covering the cost for a locksmith to retrieve your keys if they get locked in your car, sending an emergency road service provider who comes to start your car when you have a dead battery, towing your car if it breaks down while you are traveling, having a flat tire changed
Equilibrium is where the quantity ________ equals the quantity ________.
demanded, supplied
Choose all the factors that can be used to determine how much an insurance company may charge you for vehicle insurance premiums.
driving history (tickets, accidents), the deductible you choose, the make and model of your car, age, the age of your car, your residence
Supply and demand is a basic principle of:
economics
________________________ is when the price of something will move toward a point where the quantity demanded is equal to the quantity supplied.
equilibrium
Co-signing a loan is an excellent financial decision.
false
It's ok if you just briefly look at a contract before signing it.
false
How does good advertising affect the demand for a product?
Demand will increase
Gap insurance is good to have when you lease a car because if a car is determined to be a total loss, gap insurance ______________________.
pays for the replacement cost for a new vehicle, not the deprecated value
The "right to _____________" entitles the signer of a loan a certain amount of days to rescind, or cancel, the contract.
recession
If demand for an item rises, and supply stays the same, the price will _______. If the demand for an item goes down, and the supply stays the same, the price will _______.
rise, fall
A very popular artist dies and is therefore no longer able to create more paintings. The paintings that he had created before his death now become the only ones that will ever be available. Demand is high, and supply is low. What would you expect to happen to the price of these paintings?
The price will increase
In economics, ________ is the amount of a resource that producers are willing and able to produce for the marketplace. __________ is a consumer's desire to purchase goods and services and what they are willing to pay for those goods and services.
supply, demand
This Christmas, there is a huge demand for the hottest toy. Every parent you know is trying to make sure this toy is under the tree for their little boy or girl. What would you expect this rise in demand for a popular toy to do to the price?
the price will rise
If the market is over-flooded with a certain group of laborers (for example, construction workers), based on the law of supply and demand, what will potentially happen to the wages of these workers?
they could decrease
Contracts can be legally binding, and should only be signed if both parties have completely read and understand what is stated in the contract
true
The idea of supply and demand is a basic principle of economics and is used to help determine the price and quantity of goods and services.
true
Which of the following will use online contracts?
Netflix, Instagram
According to Proverbs 11:15, whoever cosigns for a stranger will_______________
be hurt
