Vocabulary (Social Science) Money and business

Cash - money in coins or notes.

Note - one piece of paper money (also called a bill).

Share - a share or stock is a document issued by a company, which entitles its holder to be one of the owners of the company.

Loan - Money that you borrow (usually from a bank) to make an expensive purchase.

Mortgage - A loan used to purchase real estate (property, such as homes).

Debit Card - A card you can use to make purchases that withdraws money from your checking account immediately.

Credit Card - A card you can use to make purchases which you can pay back at a later time.

Currency - Type of money used in a specific place (ex: dollars, euros, pounds).

Money - a form of payment used to buy things. Money is any object of value that can be exchanged for a product or service.

Debt - Money owed to someone for something.

Inflation - An increase in price of products or services over a period of time, leading to money being of a lesser value.

Salary - The amount of money you earn from a job.

Taxes - Money you have to pay to the government to finance government activities.

Savings - Money that you are saving, either in an account or a safe location.

Investment - Money that you put into something for profit.

Fine - Money that you have to pay to someone for committing a wrongdoing (a fee).

Budget: A budget is the amount of money that we have to spend. Budgets help us control how much we spend.

Copy these definitions in your notebook and investigate them on the internet so you understand them well. If you have questions post them here.