1.
bank: place to save and borrow money
2.
barter: exchange goods without involving money
3.
buyer: consumer
4.
consumption: the way we use goods and services
5.
demand: the number of people who want to buy a good or service
6.
denomination: amount printed on money
7.
depression: a severe recession
8.
economics: the study of money
9.
export: to send goods to another country for sale
10.
Federal Reservce: the main bank of the United States
11.
good: any item that can be bought or sold
12.
import: Goods brought into a country
13.
inflation: sitaution that occurs when there is too much money in the economy
14.
interdependence: the way production and consumption of goods and services are divided among many different people and groups
15.
interest: fee paid by borrower of money and the fee paid to the saver of money
16.
loan: money borrowed temporarily that must be paid back, usually plus interest
17.
mint: to make coins
18.
nonrenewable: not replaceable
19.
producer: maker of goods or service
20.
recession: situaion that occurs when there is too little money in the economy
21.
renewable: replaceable
22.
resources: anything used to produce a good or service that will satisfy our wants and desires
23.
scarce: opposite of plentiful
24.
service: any action that one person or group does for another in exchange for payment
25.
supply: the number of items available for sale
26.
surplus: over supply
27.
tariffs: Taxes on imports or exports