credit
Automatic Teller Machine (ATM):
An unattended electronic machine at which a customer can
perform bank transactions 24 hours a day.
Capital Resources:
Resources: Goods that are used to produce other goods or services, like tools, machines, or buildings.
Consumption:
Buying and using products.
Currency:
Any form of money in use as a medium of exchange for a good or service.
Denominations:
Denominations:
Bank:
Business that keeps money for customers, makes loans, and provides other money-related
Cash:
Money in the form of coins or bills.
Co-Signer:
Someone who signs their name on a legal document and is responsible for the account.
Customer:
Someone who buys a product or service.
Distribution:
Supplying goods to business to be sold.
Bartering:
Method of exchange by which goods and services are directly exchanged for other goods
and services without using money.
Checking:
A bank account in which checks may be written against amounts on deposit.
Costs:
Money paid or charged for something.
Debit Card:
Plastic card assigned to the account owner that allows them access to their funds
electronically.
Debt: Money that
Division of Labor:
Dividing up a task so that each worker does a different piece.
Budget:
Written plan of how much money can be spent and how.
Checks:
Printed forms that an account holder of a checking account can use to pay others instead
of using cash.
Credit:
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.
Debt:
Money that you owe someone that needs to be paid back.
Donate:
To present something as a gift.
Borrow:
To use someone else’s money with permission in return for paying it back later (sometimes
with interest).
Consumer:
Someone who buys and uses goods and services.
Credit Card:
Plastic card that identifies the holder and allows them to make purchases on credit.
Demand:
A consumer's desire and willingness to pay a price for a specific good or service.
Deposit:
Deposit: