Business Economics & Trade Bank Money
This chapter includes discussions on business economics, trade bank & money.
A record of money deposited or withdrawn from a bank.
A business that provides money services, such as cashing checks, making loans, and paying interest on accounts.
To trade goods and services without using money
A plan showing how income is to be spent.
Goods made and used to produce other goods and services.
To make a decision.
A model of an economy showing the interactions between households and businesses as they exchange goods, services and resources in markets.
People who buy and/or use goods and services to satisfy wants.
The bad and good points related to making a decision.
Promise of payment at a future time in return for goods/services now.
Paper money that is used by a country.
Money owed on an account.
The amount that consumers are able and willing to buy at all possible prices at a given time.
Money put into a bank account.
Division of Labor
When workers perform part of a production task.
To receive money for doing work.
The way a society organizes the production, consumption and distribution of goods and services.
The study of the production, consumption and distribution of goods and services.
An occupation by which a person earns a living.
Someone who takes the risk of producing a product or starting a new business.
Ratio at which a unit of currency of one country can be exchanged for that of another country.
The goods and services that producers in one nation sell to buyers in other nations.
Federal Reserve Bank
The central banking organization in the United States.
The management of money.
Things that can satisfy people’s wants.
Workers who make goods and provide services.
The goods and services that consumers in one nation buy from sellers in other nations.
Things that influence the behavior of people.
Amount of money you earn or receive from different sources.
When people and nations depend on one another for the goods and services they want.
Payments made for the use of money.
To use money to gain a profit.
The money a business loses after it pays its production costs.
Gifts of nature used to make goods and services.
Things you must have to live.
The next best choice that you give up.
The amount that people pay when they buy a good or service.
People who use resources to make goods and services.
The money a business makes after it pays its production costs.
Goods and services that are provided by the government.
Things used to make goods and services.
To keep money to spend later.
When there is not enough for all who want it.
Activities that can satisfy people’s wants.
Having fewer goods, services or resources available than you want.
When people produce only some of the goods and services they consume, then trade with others to get more of the things they want.
To use money to buy goods and services.
Standard of Living
A level of material comfort in everyday life that is measured by the goods and services available to an individual, group, or nation.
The amount that producers are able and willing to produce and sell at all possible prices at a given time.
Having more goods, services or resources available than you want.
Required payments of money made to governments by people and businesses that are used to provide goods and services.
When you choose to get less of one thing in order to get more of something else.
Things people like and desire.
Money taken out of a bank account.