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Vocab 15 Business
Business Essentials
Term | Definition |
---|---|
Money | Object that is portable, divisible, durable, and stable, and that serves as a medium of exchange, a store of value, and a measure or worth |
World Bank | : UN agency that provides a limited scope of financial services, such as funding improvements in underdeveloped countries |
FDIC | Federal agency that guarantees the safety of deposits up to $100,000 in the financial institutions that it insures |
Finance Company | : Non-deposit institution that specializes in making loans to businesses and consumers |
Commercial Bank | Company that accepts deposits that it uses to make loans earn profits pays interest to depositors, and pay dividends to owners |
EFT | Communication of fund-transfer information over wire, cable, or microwave |
Monetary Policy | Management of the nation’s economic growth by managing the money supply and interest rates |
Money Market Mutual Fund | Fund of short-term, low-risk financial securities purchased with the pooled assets of invest-owners |
Savings & Loan Association | Financial institution accepting deposits and making loans primarily for home mortgages |
Credit Union | Nonprofit, cooperative financial institution owned and run by its members, usually employees of a particular organization |
Mutual Savings Bank | Financial institution whose depositors are owners sharing in its profits |
Pension Fund | non-deposit pool of funds managed to provide retirement income for its members |
Securities Investment Dealer | Financial institution that buys and sells stocks and bonds both for investors and for its own accounts |
Federal Reserve System | Central back of the United States, which acts as the government’s bank, serves member commercial banks, and controls the nation’s money supply |