Glossary Terms:

On The Money

Glossary terms from:
http://www.econedlink.org/e169


Coins

Government-issued pieces of metal that have value and are used as money.

Currency

The money in circulation in any country.

Exchange

Trading a good or service for another good or service, or for money.

Money

Anything that is generally accepted as final payment for goods and services; serves as a medium of exchange, a store of value and a standard of value. Characteristics of money are portability, stability in value, uniformity, durability and acceptance.

Monopoly

A market structure in which there is a single supplier of a good or service. Also, a firm that is the single supplier of a good or service for which there are no close substitutes; also known as a monopolist.

Paper Money

Certificates of various denominations generally recognized and accepted as a medium of exchange within a nation and elsewhere. Paper money is issued and backed by national governments or, in the case of the euro, by a group of governments.