Economics/Personal Finance Final Exam - Review

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Across
  1. 4. Obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source
  2. 5. The use of all of ones resources on a single skill for production
  3. 7. A tax imposed on an import or export
  4. 8. Act which regulates the collection and use of consumer's information
  5. 12. Shows if your income is enough to repay your loan
  6. 17. Shows whether you will be responsible and repay your loans
  7. 18. The most desirable alternative given up as a result of a choice
  8. 19. Obtaining the use of money you do not have
Down
  1. 1. The ability of a country to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good
  2. 2. The ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms or individuals
  3. 3. Insurance that covers the cost of a new car if it is totaled
  4. 6. Something used to repay the debt in case of default
  5. 9. Covers the cost of damages from weather, animal collision, and theft
  6. 10. Act which forces credit companies to disclose all information to customers
  7. 11. The practice of basing some of a company's processes or services overseas, so as to take advantage of lower costs
  8. 13. #1 trade partner of the U.S.
  9. 14. Insurance that covers the cost of a rental car
  10. 15. A limit put on the amount of a specific good that can be imported
  11. 16. Covers the cost of a used car if it is totaled