Unit Three Lesson Eight Economics

Front

Anything owned to which a market value can be assigned

Back

Assets

Front

A business whose main purpose is to receive deposits and make loans

Back

Bank

Front

A card authorizing the user to buy goods and services with funds borrowed from the bank

Back

Credit card

Front

A card authorizing the user to access his or her own funds on deposit in a bank account

Back

Debit card

Front

A method of lowering risk by investing in a wide variety of financial assets

Back

Diversification

Front

A periodic payment for the use of borrowed funds; interest is paid on a loan

Back

Interest

Front

Using money with the intention of making a financial gain

Back

Investing

Front

The amount of money borrowed, or the amount of money still owed on a loan, apart from the interest

Back

Principal

Front

Setting aside a portion of income for use in the future

Back

Saving

Front

Money functions as

Back

A medium of exchange, A store of value, A standard of value