Commercial Banks

2. Economists define____ very broadly asanything that is generally accepted as payment forgoods and services or in the settlement of debts.
4. A function of money that is a widely accepted in exchange of goods and services, as well as payment of debts.
5. Customer(s) of Central Banks is or are
7. A function of money that enables pricing of goods and services
8. Fiat money is based
12. This product is meant for long-term savings 12 months or more (usually 1-5 years)
14. A borrowing product attached to the current account and is meant for emergencies
15. Where do banks get the money to lend?
16. This product combines the features of both current account and fixed deposits
18. perceived equal “value” best represents
20. A borrowing product meant for real estate purchase

1. money that represents money. It isexchangeable for a commodity.
3. A borrowing product meant to be paid between 1-5 years
6. Rising interest rates discourage borrowing, as the cost of money rises. However, they mean good news for _____.
9. A system where goods may not be easily divisible best represents the disadvantages of
10. history a record of how a person handles money and debt, including credit card accounts and other loans
11. form of a money with intrinsic value
13. where market needed both parties must want what the other offers
16. A function of money that enables the storage and use of money for the future
17. The bank account does not pay any interest on these deposits
19. Background