Financial Literacy - ANSWER Knowledge of facts, concepts, principles and
technological tools that are fundamental to being smart about money.
Personal Finance - ANSWER The study of personal and family resources
considered important in achieving financial success; it involves ho people
spend, save, protect and invest their financial resources.
Financial Responsibility - ANSWER Means that you are accountable for your
future financial well-being and that you strive to make wise personal financial
decisions.
Trade-Off - ANSWER Giving up one thing for another.
Savings - ANSWER Income not spend on current consumption.
Investments - ANSWER Assets purchased with the goal of providing
additional income from the asset itself.
Standard of Living - ANSWER Material well-being and peace of mind that
individuals or groups earnestly desire and seek to attain, to maintain if attained,
to preserve if threatened, and to regain if lost.
Financial Succes - ANSWER The achievement of financial aspiration that are
desired, planned or attempted, as defined by the person who seeks it.
Financial security - ANSWER The comfortable feeling that your financial
resources will be adequate to fulfill any needs you have as well as most of your
wants.
, Financial Happines - ANSWER The experience you have when you are
satisfied with your money matters, which is in part a result of practicing good
financial behaviours.
Economic Growth - ANSWER A condition of increasing production (business
spending) and consumption (consumer spending) in the economy and hence
increasing national income.
Business Cycle/Economic Cycle - ANSWER Wavelike patten of rising and
falling economic activity
Phases of the Business/economic cycle - ANSWER Expansion, peak,
contraction (potential recession) and trough
Recession - ANSWER A recurring period of decline in total output, income,
employment and trade, usually lasting from six months to a year and marked by
widespread contractions in many sectors of the economy.
Deleveraging - ANSWER A time period when credit use shrinks in an
economy instead of expanding as during normal economic times.
Double Dip Recession - ANSWER This occurs when the economy has a
recession and then, soon after emerging from the recession with a short period
of growth, quickly falls back into recession.
Economic Indicator - ANSWER Any economic statistic such as the
unemployment rate, GDP, or the Inflation rate, that suggests how well the
economy is doing now and how well it might be doing in the future.
Gross Domestic Product (GDP) - ANSWER The nation's broadest measure of
economic health; it reports how much economic activity (all goods and
services) has occurred with in the US borders during a given period.
Leading Economic Indicators - ANSWER Statistics that change before the
conomy changes, thus helping predict how the economy will do in the future
such as the stock market, the number of new building permits, and the consumer
confidence index.
technological tools that are fundamental to being smart about money.
Personal Finance - ANSWER The study of personal and family resources
considered important in achieving financial success; it involves ho people
spend, save, protect and invest their financial resources.
Financial Responsibility - ANSWER Means that you are accountable for your
future financial well-being and that you strive to make wise personal financial
decisions.
Trade-Off - ANSWER Giving up one thing for another.
Savings - ANSWER Income not spend on current consumption.
Investments - ANSWER Assets purchased with the goal of providing
additional income from the asset itself.
Standard of Living - ANSWER Material well-being and peace of mind that
individuals or groups earnestly desire and seek to attain, to maintain if attained,
to preserve if threatened, and to regain if lost.
Financial Succes - ANSWER The achievement of financial aspiration that are
desired, planned or attempted, as defined by the person who seeks it.
Financial security - ANSWER The comfortable feeling that your financial
resources will be adequate to fulfill any needs you have as well as most of your
wants.
, Financial Happines - ANSWER The experience you have when you are
satisfied with your money matters, which is in part a result of practicing good
financial behaviours.
Economic Growth - ANSWER A condition of increasing production (business
spending) and consumption (consumer spending) in the economy and hence
increasing national income.
Business Cycle/Economic Cycle - ANSWER Wavelike patten of rising and
falling economic activity
Phases of the Business/economic cycle - ANSWER Expansion, peak,
contraction (potential recession) and trough
Recession - ANSWER A recurring period of decline in total output, income,
employment and trade, usually lasting from six months to a year and marked by
widespread contractions in many sectors of the economy.
Deleveraging - ANSWER A time period when credit use shrinks in an
economy instead of expanding as during normal economic times.
Double Dip Recession - ANSWER This occurs when the economy has a
recession and then, soon after emerging from the recession with a short period
of growth, quickly falls back into recession.
Economic Indicator - ANSWER Any economic statistic such as the
unemployment rate, GDP, or the Inflation rate, that suggests how well the
economy is doing now and how well it might be doing in the future.
Gross Domestic Product (GDP) - ANSWER The nation's broadest measure of
economic health; it reports how much economic activity (all goods and
services) has occurred with in the US borders during a given period.
Leading Economic Indicators - ANSWER Statistics that change before the
conomy changes, thus helping predict how the economy will do in the future
such as the stock market, the number of new building permits, and the consumer
confidence index.
