Ch 10, 11, 16 Econ Review

Front

The exchange of goods without the exchange of money

Back

Barter System

Front

Something that keeps its value when its stored rather than used

Back

Store of Value

Front

Means of comparing goods and services

Back

Unit of Account

Front

anything that is used to determine value during the exchange of goods and services.

Back

Medium of Exchange

Front

When people can take their money with them easily

Back

Portability

Front

Money can withstand physical wear and tear. What is this characteristic called? Options: Uniformity, Durability, Divisibility, Portability

Back

Durability

Front

All of the money available in the US economy

Back

Money Supply

Front

Which of the following are banking services: Issuing credit cards, Issuing loans, storing money, all of the above?

Back

all of the above

Front

The price paid for borrowed money

Back

Interest

Front

This is a system where a reserve, or part, of a deposit needs to be kept on hand.

Back

Fractional reserve system