1. CONSUMER ECONOMICS EOCA STUDY GUIDE

2.  CENTRAL IDEAS  NON HUMAN RESOURCES PG. 26  PROFIT MOTIVES PG. 29-30  What motivates people to spend money?  EQUILIBRIUM PG. 32-33  Are most markets in equilibrium?  When is supply and demand in equilibrium  HUMAN RESOURCES PG. 26  Know examples of human resources.  FOUR QUALITIES OF A MARKET ECONOMY PG. 29-31  What are the four qualities of a market economy  MARKET’S ANSWER TO SCARCITY PG. 33  What determines how to divide the goods and services? CHAPTER 1 REVIEW

3.  CENTRAL IDEAS  DEPRESSION PG. 39  OLIGOPOLY PG. 50  DEPARTMENT OF LABOR (DOL) PG. 54  SECURITIES AND EXCHANGE COMMISSION (SEC) PG. 55  IMPACT OF UNEMPLOYEMENT PG. 40  Who is effected by unemployment?  INFLATION  What is a big cause of inflation? CHAPTER 2 REVIEW

4.  CENTRAL IDEAS  ASSETS PG. 65  LABOR PRODUCTIVITY PG. 61  INVESTING FOR THE FUTURE PG. 65  Why do consumers invest money?  INVESTMENT AND THE ECONOMY PG. 66  What does consumer investments do for the economy?  SAVING YOUR MONEY PG. 62-63  Is furniture or a car a form of savings?  CONSUMER MISTAKES LEADING TO PROBLEMS PG. 68-71  Know the four common consumer mistakes. CHAPTER 3 REVIEW

5.  CENTRAL IDEAS  ECONOMIES OF SCALE PG. 79  IMPORTS PG. 77  OFFSHORE OUTSOURCING PG. 82  TRADE DEFICIT PG. 87  WHAT IS TRADED PG. 77  What percentage of the goods are intermediate goods?  WHY NATIONS FAVOR FREE TRADE PG. 88  Does fair and open trade among nations benefit all?  TRADE ORGANIZATIONS PG. 91  Who is involved in the North American Free Trade Agreement? CHAPTER 4 REVIEW

6.  CENTRAL IDEAS  COST BENEFIT PRINCIPLE PG. 110  STANDARD PG. 108  IMPORTANCE OF ETHICS PG. 104  Ethics conforms to accepted standards of?  SYSTEMATIC DECISION MAKING PG. 111  What are the five steps in the decision making process? CHAPTER 5 REVIEW

7.  CENTRAL IDEAS  EXPENSE PG. 121  FIXED EXPENSE PG. 212  INCOME PG. 121  ESTIMATE AND TOTAL YOUR EXPENSES PG. 121-122  What is variable expenses?  LIABILITIES PG. 129  What is a long term liability?  WORKING THROUGH FINANCIAL PROBLEMS PG. 140  What does an emergency fund help you with? CHAPTER 6 REVIEW

8.  CENTRAL IDEAS  MEDICAID PG. 156  SALARY PG. 151  WAGE PG. 150  PAYROLL DEDUCTIONS PG. 153-154  Another name for take home pay?  TAX LEGISLATION PG. 168  What is the main aim in tax reform proposals?  MANDATORY EXPENSES PG. 156  What are the different types of entitlement programs?  YOUR EMPLOYERS ROLE PG. 160-161  What does the form W-2 determine? CHAPTER 7 REVIEW

9.  CENTRAL IDEAS  COMMERICAL BANK PG. 179  CREDIT UNIONS PG. 180-181  At what rate can credit unions lend funds?  ONLINE BANKING SERVICES PG. 183-184  What does online banking allow customers to do?  OPENING A CHECKING ACCOUNT PG. 187-188  What do you receive when you open a checking account?  BALANCING YOUR CHECKBOOK PG. 193-194  How often do you receive a bank statement?  WRITING CHECKS PG. 192-193  When would your write void on a check?  TRAVELER’S CHECKS PG. 195  What do you need to identify lost or stolen checks? CHAPTER 8 REVIEW

10.  CENTRAL IDEAS  YOUR CREDIT RATING PG. 207  What makes you creditworthy?  CHECK YOUR CREDIT REPORT REGULARLY PG. 219  How do you receive your credit report?  THE CREDIT REPORT PG. 207  How many national credit reporting agencies are there?  REASONS TO USE CREDIT PG. 201-202  Know the advantages of using credit.  FINANCE CHARGES PG. 204  What are the three factors that determine the cost of credit?  DISCLOSURE PG. 212-214  When comparing credit terms you want to consider all of these.  GET CREDIT COUNSELING PG. 222-223  What does the National Foundation for Consumer Credit offer? CHAPTER 9 REVIEW

11.  CENTRAL IDEAS  EXCLUSIONS PG. 237  PREEXISTING CONDITION PG. 237  PART A HOSPITAL INSURANCE PG. 241  Do you pay a premium for Part A coverage?  DISABILITY INSURANCE PG. 242-243  Do employers provide limited disability insurance to their workers?  TERM LIFE PG. 244  What is an advantage of term life insurance?  MANAGING RISK PG. 232  What are the four strategies for dealing with risk?  HEALTH SAVINGS ACCOUNT PG. 236  What three ways can a HSA save you money?  GOVERNMENT SPONSORED HEALTH INSURANCE PG. 240  Review the ways to lower health care costs. CHAPTER 10 REVIEW

12.  CENTRAL IDEAS  CAREER CLUSTERS PG. 550  INTERNSHIP PG. 562  MAKING A CAREER PLAN PG. 547  When is a career plan set up?  What is included in a career plan?  EMPLOYMENT TRENDS PG. 554-555  Does the development of technology mean the skill of workers are less important?  CAREER GUIDES PG. 553  What does the Occupational Outlook Handbook provide?  MAKING A CAREER PLAN PG. 547-549  What factors do you want to consider when choosing a career? CHAPTER 21 REVIEW

13.  CENTRAL IDEAS  CORPORATION PG. 581  SUCCESS IN THE WORKPLACE PG. 577-578  Communication includes listening to what others have to say?  MANAGING MULTIPLE ROLES PG. 585  What is a dual-career family? CHAPTER 22 REVIEW

14.  CENTRAL IDEAS  NAME AND DESCRIBE THE BUSINESS CYCLE.  LIST WAYS YOU CAN PREPARE FOR GLOBAL EMPLOYMENT.  EXPLAIN AND GIVE AN EXAMPLE OF PRIORITIZE.  LIST ADVANTAGES OF ONLINE BANKING.  WHY SHOULD INSURNACE BE A PART OF YOUR FINANCIAL PLAN. ESSAY REVIEW