Do I Look Like I'm Made of Money?
Printed on November 20th 2009
Business
Any activity or organization that produces or exchanges goods or services for a profit.
Functions of Money
Money functions as a medium of exchange, a store of value, and also a unit of account.
Income
Payments earned by households for selling or renting their productive resources. May include salaries, wages, interest and dividends.
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.
Glossary terms from: http://www.econedlink.org/lessons/index.php?lid=556&page=teacher