Tariffs are used to encourage global trade between two countries. Which of the following is an economic resource? Importance and Value of Financial Planning. the federal deposit insurance corporation (fdic) is an insurance agency that is supported by the government in the US. Capitalism is an example of a planned economy. Preparing a tax return yourself can be less expensive, but individuals not familiar with preparing taxes may miss eligible deductions and credits. a. The term “personal finance” refers to how you manage your money and plan for your future. What involves special devices that steal your credit card or debit card information when you use the card for a purchase? What is a partial refund of the purchase price of an item? Below are some of the … A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. What is the main characteristic of a laissez-faire economy? An economy where more money is being collected than is being allocated or spent is known as what type of economic stance? The FDIC in the US insures some financial accounts up to what amount? What advertising technique involves the use of "positive words without actually really making any guarantee"? c. Your financial goals will change over time. This folks is financial planning at its finest. Economists argue that individuals have "rational self-interest". Finance is the study of money management and the process of acquiring needed funds. Implementing the plan means you are putting your plan to work! What is a sort of auction for stocks in which traders verbally submit their offers? Any kind of financial expert (such as a stockbroker, lawyer, or accountant) can help you develop a comprehensive financial plan. If you receive a phone call and the caller asks for personal information, what should you do? What is true about financial planning? Net worth is the difference between your assets and your liabilities. what is a federal and/or state tax on specific goods like gasoline, tires, aifare, or cigarettes. The most common way for a government to raise money is through the collection of taxes. They give owners a share of ownership in the company. Laissez-faire situations are characterized by a high degree of governmental involvement. Credit tends to cost individuals more than paying in cash. One of the first steps that you can take is to place a fraud alert on your credit reports from Equifax, Experian, and TransUnion. What is the main characteristic of a laissez-faire economy? What is the process of earning interest on interest that you've already earned? What is true about financial planning? What is an advantage of a savings account? A bond indenture is which of the following? Jane is not married and has no children. Governments collect money through which of the following? What is the first step in creating a cash flow statement? What is true about certificates of deposit? Financial plans should be reviewed regularly. b. Resources are unlimited, individuals have no rational self interest, resources are limited, the wants of society are limited, The difference between unlimited wants and limited resources affects both individuals and the economy. Privately owned businesses, profits, a market economy, or all of the above. Financial planning adds tremendous value to the company. Credit unions are non-profit organizations, In the US, only five states currently charge sales tax on purchases. What is one economic principle? When you want to add coverage for something not included in an insurance policy, what would you add to your policy? What is a federal and/or state tax on specific goods like gasoline, tires, airfare, and cigarettes? What is true about personal financial planning? What is the final step in personal financial planning? 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