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Margaretta Emmerich

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Cards in this guide (19)
How are credit unions different from banks

Credit unions are nonprofit financial institutions.

Technically, you're answer is incorrect. Credit unions are not-for-profit, member owned, financial cooperatives. They are NOT the Salvation Army, the Red Cross, or Goodwill, which are nonprofit organizations. Credit Unions must earn money to cover overhead & operations, provide returns to their members and build capital. Since they are cooperatives, they issue no stock (which banks do to raise capital to expand branchs and offer additional services) and the only way credit unions can build capital is through earnings.

What provides a bank with collateral on a car loan

The car itself

People who lease a car are paying for what

The reduction in the car's value while they're driving it

What describes how a fixed-rate mortgage works

The monthly payment on a fixed-rate mortgage never changes.

What is the purpose of a letter-writing campaign conducted by a group of consumers

To get a company to change its business practices voluntarily

Why does a savings account make a better investment than a checking account

Savings accounts earn interest.

What can discretionary funds be used to pay for

Discretionary funds are government spending by passing an appropriations bill to pay for a program such as military spending or education. The money is raised and can only be spent on the program in the bill.

What pair of words best describes the purpose of using cost benefit analysis

To make decisions that maximize benefits.

Rational and Subjective.

Objective and systematic

pleasure (benefit) and pain (cost)

calculating and coherent

Rational and structured =making a list of costs and benefits

How can the news media help protect consumers

By investigating and exposing bad products and business practices

Why is it important for people to maintain a good credit history

So that they have an easier time getting loans and credit cards

A warranty protects consumers against what

Defective or damaged products--APEX

What is the purpose of production budget

purpose of production budget

Consumers can use lobbying to accomplish what

To get the government to pass new laws

Which is a procedure that quantifies the personal value of a purchase

the purchase price is calculated as a certain number of working hours.

Small- claims court is a place for which of the following

People to resolve financial differences

What are the correct steps to show how a budget is made

a

b

d

c

What time is Churchill most clearly using

I cannot answer this question.

Match each organization with its correct relationship to the government

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

Match each type of unfair business practice with its description (apex)

1.Vendor lock in: a company say a wide range of product can be used with its products but this is not true.

  1. Price fixing: a group of companies agree that all of them will charge the same price.

3.Predatory pricing: a large company charges a price below production cost in order to eliminate small competitors.

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