1. Money

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  • Created by: J.E.S
  • Created on: 19-10-17 09:48
Resources are limited but needs and wants are infinite
Basic economic problem
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Something given up when we make a choice
Opportunity cost
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The quantity of a good or service that consumers are willing and able to purchase at a particular price
Demand
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The quantity of a good or service that businesses will offer for sale at a particular price
Supply
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An account for which the main objective is to gain interest and keep money safe
Bank/building society account
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Individual savings account
ISA
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An annual rate which is charged to borrowers’ or paid savers
Interest Rates
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A figure quoted in savings advertisements to help people compare on savings products with another
Annual equivalent rate
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The chance that something may not succeed and its consequence
Risk
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The return received for taking risks
Reward
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Certificate representing a unit of ownership in a company
Shares
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A pooled investment fund usually shares-based investments
Unit trust
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Other cards in this set

Card 2

Front

Something given up when we make a choice

Back

Opportunity cost

Card 3

Front

The quantity of a good or service that consumers are willing and able to purchase at a particular price

Back

Preview of the front of card 3

Card 4

Front

The quantity of a good or service that businesses will offer for sale at a particular price

Back

Preview of the front of card 4

Card 5

Front

An account for which the main objective is to gain interest and keep money safe

Back

Preview of the front of card 5
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