money Flashcards
(5 cards)
1
Q
what is bartering
A
bartering is the direct exchange of goods for goods
2
Q
what is money
A
money is anything that can be used to facilitate the exchange of goods and services or to pay debt
3
Q
what is legal tender
A
legal tender is money that must be accepted as payment
4
Q
what is a bank
A
a bank is an institution that performs financial transactions for clients
5
Q
what is a central bank
A
a central bank manages a country’s currency and monetary policy, acting as the primary financial authority and regulator for the banking system.
