Economics Terms Unit 2

  1. Define Collateral
    Propery or valuables pledged as security for a loan.
  2. Define Cosigner
    Person who signs a load and is liable for repayment
  3. Define Credit Discrimination
    A creditor who denies credit or treasts a cosumer less favorable because or race, sex, religion, or marital status
  4. Define Credit life and Health insurance
    Policy purchased by consumer,which repays redit in the even of his/her death or disablitlity
  5. Define Creditworthiness
    Consumer's past and future ability to repay credit as determine by a creditor
  6. Define Down Payment
    Money that a consumer pays toward the purchase of a good.
  7. Define Joint Account
    Credit account which may be used by more than one person
  8. Define Prohibited Factors
    Characteriestics about a person which cannot be used by a creditor as a basis for denying credit.
  9. Define Secured Credit
    Credit arrangement where a consumer pledges good or property as collateral.
  10. Define Unsecured Credit
    Credit arrangeent in which no collateral is pledged.
Card Set
Economics Terms Unit 2
Economics Terms for Unit 2 (PCHS)