Financial Studies (Key Terms from Topic 1 - Purposes of Money) 1

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Across
  1. 3. A key feature of money to be strong enough to be reused in many transactions.
  2. 7. One of the key features of money-to be widely accepted
  3. 11. The value marked on a coin or note (eg 1p, 2p, 5p, £5, £10)
  4. 12. A function of money to allow people to make payments
  5. 14. A situation in which two people have goods or services to trade and each wants what the other person can provide.
  6. 15. The value that an item has in itself, eg a bag of rice has ________ because it is a staple food; a solid gold coin has ___________ because it is made of a precious metal; a banknote does not have ___________ because it is a piece of paper.
  7. 17. The quantity of goods or services that money can buy.
  8. 19. How much one item is worth in terms of a different item, eg one bag of flour is worth four nails, one British pound is worth 1.5 euros, etc.
Down
  1. 1. To exchange goods and services for other goods and services without using money.
  2. 2. Value based on trust in the banking system.
  3. 4. A rise in prices, which means that the purchasing power of money falls.
  4. 5. Coins or banknotes that must be accepted if offered in payment of a debt.
  5. 6. A means of transferring money from one account to another eg debit card, cheque.
  6. 8. Bank or building society accounts where people can store their money in the form of electronic balances and withdraw it to make payments.
  7. 9. A group of coins or notes that share the same face value.
  8. 10. A key feature of money to be easily divided into amounts of different value.
  9. 13. A key feature of money - to look and feel the same as other coins and notes of the same denomination.
  10. 16. Anything widely accepted as a means of making payments.
  11. 18. A key feature of money-to be small and light enough to carry around easily.