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Definition
| Anything that is generally accepted in exchange for goods and resources and in repayment of debt. |
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Definition
| An object that people are willing to use for buying and selling. |
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Definition
| Direct Exchange of goods or resources |
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Definition
| A common measure for stating prices of goods. |
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Definition
| An object that can be held and exchanged for goods at a future time. |
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Definition
| Money that has value in the market other than being a medium of exchange. |
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Definition
| Government declared money (no intrinsic value) |
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Definition
| Coins and bills issued by the government. |
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Definition
| Checking accounts funds in banks (on demand) |
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Definition
| The ease and speed in which an asset can be converted into money without a loss in value. |
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Term
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Definition
| The central bank of the U.S |
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Term
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Definition
| A committee of seven individuals who govern the Federal Reserve System. |
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Term
| Federal Open Market Committee |
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Definition
| A group consisting of the Board of Governors and District Bank Presidents; in charge of determining monetary policy for the U.S |
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Term
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Definition
| Firms which accept deposits and channel funds from savers/lenders to spenders/borrowers. |
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