Financial Institutions
This type of institution gives customers the ability to hold accounts like savings, checking, and personal loans.
Bank
Anything that is generally accepted as payment for goods or services or in the repayment of debts
Money
A system or type of money in general use in a particular country
Currency
This is an organization that specializes in helping people place their money into stocks, bonds, and mutual funds in order to help it grow.
Investment brokerage
It is an instruction to your bank to transfer cash from your account. This allow transactions to take place without the need to carry around large amounts of currency
Checks
Paper decreed by government as legal tender
Fiat money
This organization loans out large sums of money in order to help people purchase homes.
Mortgage company?
The method of conducting transactions in the economy
the payment system
These cards are digital versions of physical credit or debit cards
Virtual Payment Cards
Are organization that provide financial protection against potential losses in exchange for regular payments
Insurance company
valuable, easily standardized, and divisible commodities
Commodity Money
A measure of money supply or the international symbol for a square meter. it includes cash, checking accounts, money market funds and savings accounts
M2
Known as the financial authority of a country, this institution is known for its ability to control interest rates and print a countries legal tender.
Federal reserve
The most liquid measure of the money supply, including physical currency in circulation plus demand deposits like checking accounts
M1
It is a reposity of purchasing power available over time.
Store of value