1. What is the purpose of using credit? 2. List several sources of consumer credit.

3. What types of information are asked for on a typical credit
Application?

4. How are store credit accounts different from bank credit card
Accounts?

5. How are credit cards different from charge cards?

6. How is a single payment similar to an installment loan? How is it
Different?

7. Give two examples of collateral that might be used to secure a loan.

8. What is the responsibility of a cosigner of a loan?

9. How is a line of credit different from other types of loans?

10. List several benefits of using credit.

Witch is an example of a non durable good?

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.