1. What is a barter system?
A barter system is a system in which goods are
exchanged without the use of money.
2. What is the principle of supply and demand?
The principle of supply and
demand is purely that it is based on how much there is being made and
1. What is inflation risk?
Inflation risk is the risk that prices on an item may
rise or fall. This makes decisions a bit harder because the price may be more
now than if you had waited to buy the item or you may not buy the item and
in a few weeks the pr
1. What are some of the financial decisions that people face? What are
trade-offs? What are some of the trade-offs that you may face?
People make decisions like how much to work and how much to buy/sell.
Trade-offs are the decisions you make, basically it
1. What is identity theft? Why is this a problem in society? Identity theft is
when someone gets ahold of your personal information and uses it for
fraudulent activity. This activity can be anything from opening credit cards
and not paying to renting apar
1. What are brokerage firms? Brokerage firms manage different types of
investments like stocks and bonds.
2. What are depository and nondepository financial institutions? How do they
differ? Depository institutions have the promise of insurance, accounts
1. What character did you choose from the available choices? Why? What are
the pros and cons of choosing this character in the game? I chose Pat the
plastic surgeon because she like to work a lot and I find that is how I am too,
so to keep it realistic I
1. What are municipal bonds? Describe two different types of municipal
Municipal bonds are bonds put out by state or local governments to
pay for ongoing products like roads, schools, or airports. The first one is the
general obligation bond, these
1. What is a safe deposit box? What financial records are best kept in one?
A safe deposit box is a private secure storage box in a place like a bank.
Because this is such a private and secure location it can hold your most
valuable records like birth/ado
1. What are three economic stances that a government may have?
Describe each of these stances.
1. Neutral: This stance is seen in a
balanced economy, this gets more tax revenue for the government.
2. Expansionary: This is when the government is spending m
1. What are the four categories that you need to separate your expenses
into? Which one do you think makes up most of your own expenses? Why?
The four categories are food and drink, transportation, clothing, and
entertainment. I think most of my money goe
1. What is the most important thing that you can do when saving money?
The most important thing is to save automatically, saving small amounts
every day can really add up.
2. What is a subsidized loan? A subsidized loan is a loan that has no interest
1. What does Gerzema argue that consumers are doing?
He says that
consumers have moved from a state of anxiety to action.
2. What happened to savings in the United States? How did consumers
contribute to this change? Savings in the United states has now d
1. What was the final score of the game?
The final score was 27 to 0, my
team having 27 points.
2. How did you do answering the questions? Did you answer any of the
questions incorrectly? I did well answering the questions I got 95% of them
right, the one
1. What is the average debt for individuals 22-29? The average debt for 2229 year olds is $16,120.
2. Why is it important to think about "needs" and "wants"? What are the
differences between these? It is important to think about the difference