Money
This is anything generally accepted as a means of payment
What is money
This is a something you create to make sure you save money every month
What is a budget?
This investment is something you buy from a company and get money back depending on how much of it you buy
What is a stock?
This is the two functions do banks do
receive deposits from savers and make loans to borrowers
Currency is valued/unique to its buyers and sellers
What is Scarcity?
This basic function of money means buying/selling goods
What is Means of Exchange?
BONUS Characteristic of money: Easy to divide
What is Divisibility?
This investment is a loan that has a fixed interest rate
What is a bond?
This is the ability to withdraw money
What is liquidity?
Willingness to use currency
What is Acceptability?
This basic function of money mean comparing value of goods
What is Standard of Value?
This type of saving account is something anyone can do every paycheck
What is a Roth IRA or personal savings account?
This type of bond is used by governemnts to fund wars
What is a war bond?
This is type of deposits is when money is put into a savings account
What are Savings deposits?
Easy to carry
What is Portability?
This function of money means holding the ability to buy things
What is Store of value?
This type of savings account takes out money every paycheck and puts it into an account you can access when you retire
What is a 401k/403B
This type of bond funds bridges, schools, and parks
What is a municipal bond?
These types of deposits have high liquidity and placed into checking accounts
Good material that lasts for a long time
What is Durability?
This is another form of money other than cash
What are checks or credit cards?
This is a government agency that takes out money from your paycheck every month that you will get when you retire
What is social security?
This type of bond is used by a business to expand or fund operations
What is a corporate bond?
These deposits have low liquidity and are kept in CD's
What are time deposits?
Must all look the same
What is Uniformity?