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section 12.1-12.2

Amber Brasket Money and financial institutions

QuestionAnswer
Standard of value and a means of exchange or payment money
system in which goods and services are directly exchanged using money Monetary system
to get as ones own acquire*
Anything that is generally accepted as a measure of value and of wealth medium of exchange
way to measure the weight, amount, size, or value of something standard of value**
holds its value over time and can be stored or saved store of value**
Firmly established stable*
A firm that manages money financial institution
A record of how much money a customer has deposited into or withdrawn from a bank bank account
the money put in a bank deposit
The money taken out of a bank account withdrawal
A fee charged for the use of money interest
Allows money to be transferrred from one bank account to another through a network of computers Electronic funds transfer EFT
The electronic transfer of a payment directly from the payers bank account to the account of the person being paid Direct deposit
Property or goods pledged by a borrower to use as security against a loan if the loan is not repaid collateral
Or first rank, importance, or value primary*
Loan used to buy real estate such as a house or an office building mortgage loan**
An agreement in which a borrower gives a lender the right to take property if a loan is not repaid mortgage
made to businessers to buy supplies and equipment commercial loan**
made to an individual to pay for personal items, such as a car, home repairs, or vacation individual loan**
credit arrangement in which a finacial institution agrees to lend a specific amount of money to be used at any time for any purpose line of credit**
Secure box in abanks vault used for the safe stroage of a customers valuables safe-deposit box**
Free from risk or loss secure*
Banks that offer the entire range of banking services, such as checking and savings account, loans, and financial advice; also called full service banks Commercial banks
to give or transfer formally granted*
Financial institutions that hold customers' funds in interest-bearing accounts and invest mainy in mortgage loans savings and loan associations
not-for-profit banks set up by organizations for their customers to use credit unions
Financial institutions that provide loans specifically for buying a home or business Mortgage companies
Financial institutions that offer short-term loans to businessses and consumers, but at much higher interest rates than banks charge Finance Companies
Financial instituions that provide protection against problems such as fire and theft Insurance Companies
Financial instituions that sell stocks and bonds and also may offer a wide range of financial services to clients Brokerage Firms
The central bank of united states Federal Reserve System
to watch, keep track of, or check Monitors*
An interest-bearing certificate of public or private indebtedness Bonds*
Characterixed by a ready capabilty to adapt to new, different, or changing requirements Flexible*
Funds set aside for emergencies, such as a rush of withdrawls at a bank Reserves
supply of an item is overly plentiful, it loses its value since it would have little worth scarce**
willing to take money in exchange for goods and services accepted**
Seperated to different areas divisible**
Means to make a copy of something in order to defraud or decieve people Couterfeit**
to place or leave it for preservation or later use Store money**
to be able to carry or be with you Portable**
strong long lasting Durable**
Created by: Amber_Brasket
Popular Management sets

 

 



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