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23 Cards in this Set
- Front
- Back
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Bank |
Institution for saving and lending |
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Mint |
To make coins |
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Goods |
Any item that can be bought or sold |
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Renewable |
Resource that is replaceable |
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Depression |
A severe recession |
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Interest |
A fee paid when you borrow money and earned when you save it |
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Consumer |
Buyer of a good or service |
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Supply |
The quantity of goods or service available for sale |
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Loan |
To lend out money temporarily |
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Surplus |
Over-Supply |
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Recession |
Time when there is too little money in the economy |
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Denomination |
The amounts that money is printed on |
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Scarce |
Hard to find not enough to meet demand |
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Inflation |
Time when thereiscro much money in the economy resulting in higher prices |
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Economics |
The study of the production and distribution of wealth |
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Producer |
Someone who makes goods or provide service |
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Resource |
Anything used to produce a good or service |
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Federal Reserve |
The main regulator of banks in the United States |
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Interdependence |
The way production and consumption of goods and services is divided among many different people |
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Service |
Any action that one person or group performs for another in exchange for payment |
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Consumption |
How people use goods and services to satisfy their wants and needs |
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Nonrenewable |
Resources that can not be replaced or renewed |
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Demand |
The number of people who want to buy a good or service |
