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Business

Business(Money and banking I)

QuestionAnswer
What is money? Anything that is acceptable by people in exchange for goods and services
What is barter? The exchange of goods for goods
What are the forms of money? Currency,bank current accounts,plastic money
What is currency? Cash,it consists of motes and coins
What is a credit card? A customer can pay for goods and services with this card and is given up to seven weeks to pay or them before interest is charged
What is a charge card? Similar to a credit card but the customer must pay their bill as soon as it is received
What is an ATM card? A plastic card used by banks and building society's. Customers can take out money,put in money and make payment from their accounts at cash terminals
What is a debit card? Known as a laser card, it enables account holders to electronically make a payment from their account by having the card swiped through a special terminal
Created by: Chimozukee
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