Critical Issues

Card Set Information

Author:
cj8
ID:
280900
Filename:
Critical Issues
Updated:
2014-08-19 15:55:07
Tags:
Critical Issues
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Description:
Vocab
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The flashcards below were created by user cj8 on FreezingBlue Flashcards. What would you like to do?


  1. A person or organization that uses a product or service
    Consumer
  2. the granting of a loan and the creation of debt; any form of deferred payment
    Credit
  3. an obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest
    debt
  4. A system by which goods and services are produced and distributed
    Economy
  5. the knowledge and skillset necessary to be an informed consumer and manage finances effectively
    financial literacy
  6. A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
    Interest
  7. A debt evidenced by a "note", which specifies the principal amount, interest rate and date of repayment
    Loan
  8. All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, ect.
    Personal finance

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