WorksheetsAP Macro Unit 4 Vocab #1
Total questions: 15
Worksheet time: 30mins
Fiat Money
a flow of earnings per unit of time
performs the function of money but has no other value or uses
the total collection of assets
performs the function of money and has intrinsic value
anything that is generally accepted in payment for goods and services
Commodity Money
a flow of earnings per unit of time
performs the function of money but has no other value or uses
the total collection of assets
performs the function of money and has intrinsic value
anything that is generally accepted in payment for goods and services
Money
a flow of earnings per unit of time
performs the function of money but has no other value or uses
the total collection of assets
performs the function of money and has intrinsic value
anything that is generally accepted in payment for goods and services
Income
a flow of earnings per unit of time
performs the function of money but has no other value or uses
the total collection of assets
performs the function of money and has intrinsic value
anything that is generally accepted in payment for goods and services
Wealth
a flow of earnings per unit of time
performs the function of money but has no other value or uses
the total collection of assets
performs the function of money and has intrinsic value
anything that is generally accepted in payment for goods and services
Double Coincidence of Wants
acts as a measurement of value
allows you to store purchasing power for the future
ease with which an asset can be accessed and used as a medium of exchange
used to buy goods and services with no complications of barter system
before trade can occur, each trader has to have something the other wants
Liquidity
acts as a measurement of value
allows you to store purchasing power for the future
ease with which an asset can be accessed and used as a medium of exchange
used to buy goods and services with no complications of barter system
before trade can occur, each trader has to have something the other wants
A Store of Value
acts as a measurement of value
allows you to store purchasing power for the future
ease with which an asset can be accessed and used as a medium of exchange
used to buy goods and services with no complications of barter system
before trade can occur, each trader has to have something the other wants
A Unit of Account
acts as a measurement of value
allows you to store purchasing power for the future
ease with which an asset can be accessed and used as a medium of exchange
used to buy goods and services with no complications of barter system
before trade can occur, each trader has to have something the other wants
A Medium of Exchange
acts as a measurement of value
allows you to store purchasing power for the future
ease with which an asset can be accessed and used as a medium of exchange
used to buy goods and services with no complications of barter system
before trade can occur, each trader has to have something the other wants
Personal Finance
in economics, always refers to business spending on tools and machinery
a fee that a borrower pays a lender for a loan
the way individuals and families budget, save, and spend
represents ownership of a corporation and the holder is often entitled to a portion of the profit
loans, or IOUs, that represent debt that the government, business, or individual must repay to the lender – NO ownership of company
Investment
in economics, always refers to business spending on tools and machinery
a fee that a borrower pays a lender for a loan
the way individuals and families budget, save, and spend
represents ownership of a corporation and the holder is often entitled to a portion of the profit
loans, or IOUs, that represent debt that the government, business, or individual must repay to the lender – NO ownership of company
Interest
in economics, always refers to business spending on tools and machinery
a fee that a borrower pays a lender for a loan
the way individuals and families budget, save, and spend
represents ownership of a corporation and the holder is often entitled to a portion of the profit
loans, or IOUs, that represent debt that the government, business, or individual must repay to the lender – NO ownership of company
Bonds
in economics, always refers to business spending on tools and machinery
a fee that a borrower pays a lender for a loan
the way individuals and families budget, save, and spend
represents ownership of a corporation and the holder is often entitled to a portion of the profit
loans, or IOUs, that represent debt that the government, business, or individual must repay to the lender – NO ownership of company
Stocks
in economics, always refers to business spending on tools and machinery
a fee that a borrower pays a lender for a loan
the way individuals and families budget, save, and spend
represents ownership of a corporation and the holder is often entitled to a portion of the profit
loans, or IOUs, that represent debt that the government, business, or individual must repay to the lender – NO ownership of company
