Shared Flashcard Set

Details

Money and Banking
MB- Test 1- Ch.3
7
Business
Undergraduate 4
09/23/2010
Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

Additional Business Flashcards

 

 

Cards

Term
Is money a stock?
 Definition
Yes
Term
Paper money and coins
 Definition
Currency
Term
The total collection of pieces of property that serve to store value
 Definition
Wealth
Term
Flow of earnings per unit of time
 Definition
Income
Term
Money has three primary functions:
 Definition
1. Medium of exchange- which is the most primary function
2. Unit of account
3. Store value
Term
The method of conducting transactions in the economy
 Definition
Payments system
Term
Money made up of precious metals or another valuable commodity
 Definition
Commodity money
Supporting users have an ad free experience!