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11 Terms

1
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What is the most fundamental economic problem?
Scarcity
2
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What causes scarcity?
Limited resources to meet unlimited wants/needs
3
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What is the opportunity cost of a 30 year loan?
Less money left in the long term
4
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What are the 2 reasons that people don’t save?
They want instant gratification & it’s easier to use credit
5
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Which type of investment is riskier?
Mutual funds
6
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What is the relationship between risk and reward?
Higher risk leads to higher reward, and lower risk leads to lower reward.
7
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When you are investing, what are 3 factors that you can change?
Interest rate, length of time, amount invested.
8
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What is the difference between the S&P 500 and the NYSE?
S&P 500 is a report of how the top 500 companies are doing, while the NYSE is an actual stock exchange.
9
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Which type of investment has the highest liquidity risk?
Real estate
10
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How many credit scores do you have?
One
11
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When you file an insurance claim, what do you pay first?
Deductible