Banking Unit Vocab

Banking Unit Vocab

Assessment

Flashcard

Other

12th Grade

Practice Problem

Hard

Created by

Wayground Content

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23 questions

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1.

FLASHCARD QUESTION

Front

Federal Reserve System (Fed)

Back

privately owned, publicly controlled, central bank of the United States

2.

FLASHCARD QUESTION

Front

Barter economy

Back

Moneyless economy relying on trade.

3.

FLASHCARD QUESTION

Front

Commodity money

Back

Money with alternative uses as economic goods (e.g., gunpowder, flour, corn).

4.

FLASHCARD QUESTION

Front

fiat money

Back

money by government decree; has no alternative value or use as a commodity.

5.

FLASHCARD QUESTION

Front

Monetary unit

Back

Standard unit of currency in a country’s money supply; American dollar, British pound, etc.

6.

FLASHCARD QUESTION

Front

Medium of exchange

Back

money or other substance generally accepted as payment for goods and services; one of the three functions of money.

7.

FLASHCARD QUESTION

Front

Measure of value

Back

One of the three functions of money that allows it to serve as a common denominator to measure value.

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