Glossary Terms:

Bill, Are You Bogus?

Glossary terms from:
http://www.econedlink.org/e59


Bank

A financial institution that provides various products and services to its customers, including checking and savings accounts, loans and currency exchange.

Barter

Trading a good or service directly for another good or service, without using money or credit.

Cash

Money in the form of paper currency or coins (as distinct from checks, money orders or credit).

Character

In the context of credit transactions, character is one of the Three Cs of Credit. It is an indicator of how creditworthy a prospective borrower is likely to be, as determined by the borrower's handling of past debts and his or her stability in jobs and residences.

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.

Land

"Gifts of nature" that can be used to produce goods and services; for example, oceans, air, mineral deposits, virgin forests and actual fields of land. When investments are made to improve fields of land or other natural resources, those resources become, in part, capital resources. Also known as natural resources.

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.

Services

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

Trade

The exchange of goods and services for money or other goods and services.