A | B |
money | medium of exchange made up of dollars and cents |
characteristics of money | portable, divisible, nationally accepted and uniformal |
transaction | a term that describes the exchange of money for a good or service |
loan | a term used when you borrow money from the bank |
denominations | a collective term that refers to the $5, $10, $20, $50, $100 available in Australian |
credit | a card that allows you to buy now and pay later |
high interest charge | a disadvantage of using credit cards |
inflation | a general increase in the level of prices |
bartering | a system used for trading goods and services between people without money |
chickens | something that can be used in bartering system |
currency | another word for money |
foreign currency | name given to the money of other countries |
yen | currency of japan |
dollar | currency of america |
bank | institution where money is stored |
safety | reason why we keep money in a bank |
savers | name given to people who gain interest in the money they have in the bank |
debt | term used when you owe money to someone |