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Year 10 Commerce - Money Unit L1 - July 2024

AB
moneymedium of exchange made up of dollars and cents
characteristics of moneyportable, divisible, nationally accepted and uniformal
transactiona term that describes the exchange of money for a good or service
loana term used when you borrow money from the bank
denominationsa collective term that refers to the $5, $10, $20, $50, $100 available in Australian
credita card that allows you to buy now and pay later
high interest chargea disadvantage of using credit cards
inflationa general increase in the level of prices
barteringa system used for trading goods and services between people without money
chickenssomething that can be used in bartering system
currencyanother word for money
foreign currencyname given to the money of other countries
yencurrency of japan
dollarcurrency of america
bankinstitution where money is stored
safetyreason why we keep money in a bank
saversname given to people who gain interest in the money they have in the bank
debtterm used when you owe money to someone



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