Money and Banking

trade a good or service for a good or service provided by someone else

• barter

• moeny

anything that people will accept as payment for goods and services

• money

• barter

means through which goods and services can be exchanged

• medium of exchange

• store of value

something that holds its value over time

• store of value

• unit of account

yardstick of economic value in exchanges

• interest rate

• unit of account

percentage of the total amount of money loaned or borrowed

• interest rate

• assets

things of economic value that a person or company owns

• assets

• debits

money paid to a person or business for goods or services

• income

• savings

income not spent on immediate wants

• savings

• income

use of money today in a way that earns future benefits

• investment

• stocks and bonds