Money & Banking
What is money you keep for future use called?
What is Savings?
What is the Law of Demand?
What is When prices go up, demand goes down?
What is the amount of money something costs called?
What is Price?
What are physical items that can be bought or sold?
What is Goods?
What do we call goods brought into a country?
What is Imports?
What is money you borrow that must be repaid later?
What is Credit?
What is the Law of Supply?
What is When prices go up, supply goes up?
What do we call money spent on things we buy?
What is Spending?
What are actions people do for others in exchange for money?
What is Services?
What do we call goods sent out to other countries?
What is Exports?
What is money you owe called?
What is Debt?
What happens when there is not enough of something people want?
What is Scarcity?
What is a plan for how to use your money called?
What is Budget?
Why are services important in an economy?
What is They provide jobs and meet people’s needs?
Why do countries trade with each other?
What is To get goods they can’t produce themselves?
What is the extra amount you pay when borrowing money or earn when saving?
What is Interest?
What is the study of how people use money and resources?
What is Economics?
What is it called when you use a card that borrows money from the bank to buy something?
What is Credit Card?
What happens to price when supply is high but demand is low?
What is Price decreases?
What can happen to a country’s economy if it exports more than it imports?
What is It earns more money?
Which card takes money directly from your bank account?
What is Debit Card?
What happens to demand when the price of goods decreases?
What is Demand increases?
What is protection you buy to cover possible loss or damage?
What is Insurance?
What happens to price when demand is high but supply is low?
What is Price increases?
What is one benefit of global trade?
What is It allows access to a variety of goods and services?