| A | B |
|---|
| exchange | money is a medium of |
| coins | money is made up of dollars and |
| bartering system | before money this system of buying an selling was used |
| portable | characteristic of money that means it is easy to carry around |
| durable | characteristic of money that means it lasts for a long period of time |
| divisible | characteristic of money that mean it can be broken down to certain units of currency |
| uniformity | characteristic of money that means al $5 notes look the same / have same value |
| acceptibility | characteristic of money that means it is seen as valid within the country |
| buy items they need | Money allows people to do what |
| list of things that humans need for survival | Shelter, Clothing, Water, Heat, Food |
| list of things that humans want (not required for survival) | Smart watch, Flat screen tv, mulberry bag |
| store value | Money can be saved over a period of time and it should not lose value. This is called |
| dollars | Currency of Austalia |
| AUD | Abbreviation for Australian dollars |
| denominations | Term that describes the different categories of dollars eg $5, $10, $20 |
| budget | financial plan of income and expenditure |
| income | term that describes money coming into the household or business |
| expenditure | term that describes money leaving the household or business |
| profit | a term that describes when income > expenditure |
| loss | a term that describes when income < expenditure |
| loans and credit cards | types of credit |
| interest | term used to describe charge you pay on credit |
