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10 terms

Money and Banking

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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.