Economics
Bartering economies generally fall under this system.
A Traditional Economy
A mandatory fee charged by the government to fund infrastructure and services.
Taxes
This term is defined as a medium of exchange that replaces bartering/trading.
Money/currency
The current US unemployment rate.
4%-5%
This concept is defined as an increase in the price of goods and services.
Inflation
This term is defined as a plan that tracks expected income and expected expenses over a period of time.
A Budget
Individuals can deposit and borrow money from this financial institution.
Banks
The median salary in the US
$60,000-$70,000
This concept what the study of economics revolves around.
Scarcity
An agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen
Insurance
This tool takes the form as a card and is used for short term borrowing.
Credit Card
The median home price in the United States.
$370,000-$420,000
This concept is what determine prices in a free market economy.
Supply and Demand
This term is used when someone receives money, goods, or services, and promises to pay for it at a later date, with interest.
Credit
This financial instrument represents partial ownership in a company.
Stock
The average interest rate (APR) for credit cards in the US.
20%-25%