Academic
Vocabulary
Vocabulary
What does vendor mean?
A business that sells goods or services, especially on the street
To change slowly over time
Evolve
The heavier the coin the greater its...
Value
When cash is deemed unfit or damaged what can a person do with the cash?
A person can take it to the local bank and exchange it for new money. These local banks collect all unfit cash and send it to the Federal Reserve banks.
What is the lifespan of a one-hundred dollar bill?
15 years
What does service mean?
A system or way of providing something that is necessary or useful. It is something you do to receive money.
To give something out
Issue
Hundreds of years ago, many people used what to pay for goods and services?
Name three items
salt, shells, and beads
What is the lifespan of a one-dollar bill?
5.8 years
What is a compound word?
Give an example of a compound word?
Words made up of two smaller words.
Examples: with|out, on|line, Bit|coin, smart|phones
What does guarantee mean?
To provide a promise of certain conditions
To participate or be involved in a particular activity
Engage
How do "mobile wallets" work?
Banking information can be stored on smartphones. Users quickly pay for products in stores by scanning their phones.
How many federal reserve banks are there?
12
How much does it cost to make a dollar bill?
5.6 cents
What does financial mean?
Having to do with money or the business of money
A large organization where people work together
Institution
People can now buy things from online vendors. You can now buy music, pizza, clothing, shoes, books.
What is this called?
e-commerce shopping
After money is printed, it is...
shipped to Federal Reserve banks, then delivered to various financial institutions
Read this number out loud correctly:
$2,425,600,000
Two billion, four hundred twenty five million, six hundred thousand dollars
What does circulation mean?
The exchange of something, such as money, from one person to another.
The value shown on a coin or paper money
Denomination
Who created the first bank of the United States called Bank of the United States?
Alexander Hamilton
More than half of U.S. currency is held where?
In other countries
What are three words (synonyms) for the word currency?
Bank
Money
Foreign
Cash
Dollars
Paper dollars
Value