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Method of exchange by which goods and services are directly exchanged for other goods
and services without using money.
Bartering
Business that keeps money for customers, makes loans, and provides other money-related
services.
bank
Written plan of how much money can be spent and how.
Budget
To use someone else’s money with permission in return for paying it back later (sometimes
with interest).
Borrow
Money in the form of coins or bills.
Cash
Someone who buys and uses goods and services.
Consumer
Buying and using products.
Consumption
Money paid or charged for something.
Costs
Printed forms that an account holder of a checking account can use to pay others instead
of using cash.
Checks
Providing of money or goods with the expectation of payment in the future. Trust given to a
customer for a future payment for the goods purchased.
Credit
Plastic card that identifies the holder and allows them to make purchases on credit.
Credit Card:
Someone who buys a product or service.
Customer:
Having a job.
Employment
Carved, cut, or etched into a material.
Engraved
A person who creates and manages a business.
Entrepreneur:
To give up something and then receive something in return.
Exchange:
Open place or a covered building where buyers and sellers gather for the sale of goods.
Market
The average of the numbers in the data set of numbers (add up all the numbers and then
divide by how many numbers are in the data set).
Mean:
People or businesses that provide goods and services.
Producer:
Money a business makes after expenses are paid.
Profit:
Bank account by which a person makes deposits and accumulates interest with the goal of
saving money.
Savings:
When something is rare or there is not a lot of something.
Scarcity:
640,000 notes or bills of any denomination packaged together.
Skid:
When workers focus on doing only one part of a job.
Specialization: