Terms 1
The direct exchange of goods and services for other goods and services.
What is the barter system?
A set amount of money that you are allowed to borrow.
What is a line of credit?
Used for preserving food and flavor. More valuable at one time then gold.
What is salt?
Money that is borrowed and expected to be paid back with interest.
What is a loan?
A certificate of ownership.
A medium of exchange, a unit of account.
What is money?
With this you are using your own money out of your own bank account.
What is a debit card?
This is what a cd stands for.
What is a certificate of deposit?
A specific type of loan used to buy real estate.
What is a mortgage?
Many corporations pay out part of their
profits as
What is dividends?
Relies on citizen confidence in its acceptance, this is a legal tender.
What is fiat money?
This is what APR stands for.
What is an annual percentage rate?
Price paid for the use of borrowed money.
What is interest?
Allow you to save and to write a limited number of checks. Interest rates are not fixed; they can move up or down.
What are money market accounts?
Way an investor can earn a profit is to sell the stock for more than he or she paid for it.
What is a capital gains?
This is what ATM stands for.
What is automated teller machines?
This is a charge for times when you go over
your maximum credit card limit.
What is an over-the-limit fee?
The amount of money borrowed is called this.
What is principal?
fail to payback a loan is called what.
What is default?
A person who links buyers and sellers of stock.
What is a stockbroker?
***DAILY DOUBLE***
Pools the savings of many individuals and invests this money in a variety of stocks, bonds, and other financial assets.
What is a mutual fund?
A fee that you have to pay when you withdraw cash with the card at an ATM.
What is a cash advance fee?
This is the difference between a bull and a bear.
What is in a bull market, investors expect an increase in profits and, therefore, buy stock. During a bear market, investors sell stock in expectation of lower profits?
A private investment organization that employs risky strategies that often make huge profits for investors.
What is a hedge fund?
These are the initials for the 2 largest stockmarkets.
What is Nasdaq and what is NYSE?