Glossary Terms:

Funny Money or Phony Money?

Glossary terms from:
http://www.econedlink.org/e296


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.

Goods

Tangible objects that satisfy economic wants.

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.

Return

Earnings from an investment, usually expressed as an annual percentage.

Sale

An exchange of goods or services for money.

Save

To keep money for future use; to divert money from current spending to a savings account or another form of investment.

Services

Activities performed by people, firms or government agencies to satisfy economic wants.

Value of Money

The ability of money to buy goods and services. A wide variety of items has been used as money. Money need not have any intrinsic value. It is people's willingness to accept it that gives it value.

Work

Effort applied to achieve a purpose or result, often for pay; skills and knowledge put to use to get something done; employment at a job or in a position; occupation, profession, business, trade, craft, etc.