Glossary Terms:

I Have No Money, Would You Take Wampum?

Glossary terms from:
http://www.econedlink.org/e67


Barter

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

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.

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.

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.