The Individual as a Producer, Consumer and Borrower 4.0 / 5 based on 1 rating ? EconomicsThe IndividualIGCSECIE Created by: Imogenbn99Created on: 27-10-15 09:39 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
Comments
No comments have yet been made