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ECO Topic 6 Vocab

ECO Topic 6 Vocabulary Lessons 1,4,5,6,7 Pearson Realize

TermDefinition
Money Anything that serves as a medium of exchange, a unit of account, and a store of value
Barter The direct exchange of one set of goods or services for another
Commodity Money Objects that have value in and of themselves and that are also use as money
Fiat Money Objects that have value because the government has decreed that they are an acceptable means to pay debts
Money Supply All the money available in the United States economy
Liquidity The ability to be used as, or directly converted into, cash
Default To fail to pay back a loan
Mortgage A specific type of loan that is used to buy real estate
Credit Card A card entitling its owner to buy goods and services based on the owner's promise to pay for those goods and services
Interest The price paid for the use of borrowed money
Principle The amount of money borrowed
Debit Card A cared used to withdraw money from a bank account
Creditor A person or institution to who money is owed
Investment The act of redirecting resources from being consumed today so that it may create benefits in the future
Financial Asset A claim on the property or income of a borrower
Mutual Fund An organization that pools the savings of many individuals and invests this money in a variety of stocks, bonds, and other financial assets
Diversification The strategy of spreading out investments to reduce risk
Portfolio A collection of financial assets
Return The money an investor receives about and beyond the sum of money initially invested
Coupon Rate The interest rate that a bond issuer will pay to the bondholder
Maturity The time at which payment to a bondholder is due
Yield The annual rate of return on a bond if the bond is held to maturity
Savings Bond A low-denomination bond issued by the United States government
Municipal Bond A bond issued by a state or local government or a municipality to finance a public project
Junk bond A bond with high risk and potentially high yield
Capital Market A market in which money is lent for periods longer than a year
Money Market A market in which money is lent for period of one year of less
Share A portion of stock
Capital Gain The difference between the selling price and purchase price that results in a financial gain for the seller
Capital Loss The difference between the selling price and purchase price that results in a financial loss for the seller
Stockbroker A person who links buyers and sellers of stock
Brokerage Firm A business that specializes in trading stocks
Stock Exchange A market for buying and selling stock
Bull Market A steady rise in the stock market over a period of time
Bear Market A steady drop or stagnation in the stock market over a period of time
Created by: cwarsing