Finance Vocab | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 16 Public

Finance vocab

Study Slideshow

When you choose to buy something at the expense of buying something else, it is called an _______ cost

Opportunity

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What is a mortgage?

A loan used to buy a house or property

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What type of bank account is most commonly used for everyday transactions?

Checking account

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Is a refrigerator an example of a want or a need?

Need

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If something is 'booming', it is ______.

doing very well, successful, popular

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What is the difference between retail and wholesale?

Retail = sales to individual customers, Wholesale = sales in bigger quantities, usually to businesses

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When you use a credit card, are you using money that you have? Or money that you are borrowing?

Borrowing

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In regards to bank accounts and credit cards, explain what a balance is.

Balance = the total amount you have in an account, or the total amount you owe on a credit card

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What is it called when you borrow money from a bank or a friend?

Loan

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What is a synonym for installment?

payment

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What is an asset?

something you have that is valuable

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What is collateral?

An asset that a lender (bank) accepts as security that you will pay back a loan.

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What is the past tense of the verb 'lend'?

lent

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If you owe a lot of money to the bank, you are in ________.

in debt

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Give an example of a 'reward' you might get for using your credit card.

Various answers. Cash-back, travel rewards, merchandise (products), etc

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How can you build your credit score in Canada?

Pay your bills on time, take out loans (and pay them back)

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