The Individual as a Producer, Consumer and Borrower

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Barter
System of trade through swapping items
1 of 18
Cash
notes,coins and debit cards
2 of 18
Central Bank
The government's bank, responsible for issuing money, setting interest rates
3 of 18
Commercial Bank
High Street Bank offering a range of accounts to individuals and businesses
4 of 18
Credit Card
Electronic Payment card that allows users to make payments with borrowed money that can be paid at a later date
5 of 18
Current Account
Instant access account used for routine/regular transactions
6 of 18
Debit Card
Electronic payment card linked to current account that has funds to make the transaction
7 of 18
Disposable Income
The money available after paying taxes that you can choose how to use
8 of 18
Liquidity
The abililty for an item to be exchanged for cash with no loss of value
9 of 18
Money
Commodity that is universally accepted as payment for all goods and services
10 of 18
Money Supply
The sum of the notes, coins, deposits in banks
11 of 18
Piece rate
Payment based on quanitity produced e.g. fruit picking
12 of 18
Salary
Annual payment total that is paid monthly
13 of 18
Specialisation
Working on specific stages of production in the aim of increasing productivity and lowering costs
14 of 18
Stock exchange
Organisation that facilitates the buying and selling of share in Public and Private Limited companies
15 of 18
Trade Union
Organisation of workers that negotiate wages, working conditions and hours. Collective bargaining
16 of 18
Wage
Hourly rate for labour
17 of 18
Wealth
Collection of assets
18 of 18

Other cards in this set

Card 2

Front

notes,coins and debit cards

Back

Cash

Card 3

Front

The government's bank, responsible for issuing money, setting interest rates

Back

Preview of the back of card 3

Card 4

Front

High Street Bank offering a range of accounts to individuals and businesses

Back

Preview of the back of card 4

Card 5

Front

Electronic Payment card that allows users to make payments with borrowed money that can be paid at a later date

Back

Preview of the back of card 5
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