Final Exam Review Sheet:

 

 Be sure to be familiar with the following terms & names:

Economics
Wants vs. Needs
Capital
Opportunity Costs
Production Possibilities Curve
Scarcity
Competition
Economic Systems
Traditional Economy
Market Economy
Command Economy
Key economic questions
Specialization
Business Organizations
Sole proprietorship
Partnerships
Corporations
Non-profit organizations
Multi-nationals
Barter
Banking – types of banking institutions
Money - types of money
Liquidity – liquid assets
Diversification
FDIC
Bonds – corporate – Govt – municipal
Stocks – common – preferred – growth – income
Bull & Bear
The Dow Jones Industrial Average
Compounding
Personal financial planning
Steps to financial planning
Financial goals
Supply & demand
Business Cycle
Types of credit – open & closed
Credit Cards & their uses
Finance charges
Credit bureau
Credit Counseling
Bankruptcy
Credit Score