Midterm Exam Review

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Across
  1. 2. Money is used to compare the prices of different goods and services
  2. 6. Items that have value and are used to buy goods and services
  3. 7. Purchases not essential to daily living
  4. 10. Payment received for goods and services
  5. 13. Money that only has value because the government says it does, and the population trusts the government
  6. 14. All monthly expenses associated with essential goods and services
  7. 17. Money must be easy to carry
  8. 19. Trading one good or service for another instead of using currency
  9. 20. Expenses that change throughout the year
  10. 21. An amount of money that is owed to someone
  11. 22. Money must be able to withstand the wear and tear of many people using it
  12. 24. Money must be relatively scarce and hard for people to obtain
  13. 25. Expenses that are the same every month
Down
  1. 1. Helps a person determine if they are spending too much money on certain things, or if they are spending money too quickly
  2. 3. Money must be widely accepted as a medium of exchange
  3. 4. When you spend money on something you want instead of need
  4. 5. Anything widely accepted as payment for final goods and services
  5. 8. Money you take home after taxes
  6. 9. Money borrowed from someone else with the expectation of paying it back with interest
  7. 11. Costs paid in exchange for goods and services
  8. 12. The central bank of the United States
  9. 15. Money must be easily divided into small parts so that people can purchase goods and services at any price
  10. 16. Money makes it easier for people to save and then spend the money later
  11. 18. Money acts as a go-between to make it easier to buy things. Sellers agree to accept it in exchange for a good or service
  12. 23. Total amount of money you can earn before taxes
  13. 24. Money’s value must remain relatively constant over long periods of time