Chapter 18: Personal Finance

A movement to educate buyers about the purchases they make and to demand better and safer products from manufacturers.

• Consumerism

• Capitalism

• Communism

• Laissez Faire

Select all of the rights for consumers, in the "consumer bill of rights"

• Right to Safety

• Right to best deal

• Right to be Informed

• Right to Consumer Education

• Right to Choose

What is the name for an item that does not have a brand name but is basically similar to a more expensive, well known product?

• Generic Good

• Non-Branded Good

• Inferior Good

• Superior Good

The promise by a producer to repair or replace a faulty product within a certain time frame.

• refund
• guarantee
• discount
• warranty

What is the economic term called when I buy a good that was not planned?

• Random purchasing
• Spontaneous buying
• Unplanned acquisition
• Impulse buying

What is the money remaining after all the taxes have been paid?

• Revenue

• Gross income
• Taxable income
• Disposable income

What is the plan for making and spending money called?

• savings
• investment
• shopping
• budget

What is the money spent on goods and services called?

• savings
• expenses

• income
• spending

What the term is called when you have a negative balance when looking at a budget.

• Profit
• Surplus
• Excess
• Deficit

Permission to pay later for goods or services obtained today.

• debit
• cash
• check
• credit