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unit 1 vocabulary
| Term | Definition |
|---|---|
| money | something generally accepted as a medium of exchange, a measure of value or a means of payments (Merriam-Webster Dictionary) |
| currencies | system of money in general use in a country |
| coin | type of money made with metal, stamped and issued by the authority of government |
| bank notes | promissory notes issued by a Federal Reserve Bank |
| government bond | form of debt issued by a national government |
| treasury bonds (t-bonds) | type of treasuries which have the longest maturities of all government bonds |
| treasury bills (t-bills) | type of government bond issued with shorter maturities than T-bonds |
| cash | form of legal tender which can be used to exchange goods, debt or services |
| debit card | payment card which provides the cardholder electronic access to their bank account |
| credit card | payment card issued by a bank to cardholders as a method of payment |
| personal check | slip of paper which allows the user to make a payment from his or her bank account to a business or individual |
| electronic funds transfer | wire transfer of money from one bank account to another |
| money supply | total amount of monetary assets available in a country’s economy at a specific time |
| money demand | desired holding of financial assets in the form of money– cash and bank deposit |
| continentals | paper currency issued by the Continental Congress |
| gold standard | standard mass of gold defines the value of a currency unit |
Created by:
23cooper.destanee
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