Money and Banking

10 terms by bonesteel

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money

A standard of value and means of exchange or payment.

bartering

Trading goods or services directly for other goods and services.

medium of exchange

Anything that is generally accepted as a measure of value or of wealth.

divisible

Currency and coins are available in multiple denominations because money needs to be...

counterfeiting

Making a copy of a $100 bill with the intention of using it to make a purchase.

interest

Stored money in a savings will likely earn this.

transfer

When talking about banking, EFT stands for electronic funds....

mortgage

A loan to buy a house.

commercial

A loan to a business.

individual

A loan for personal items such as autos.

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