Economics of banking full summary: Book, Lectures, Tutorials [Level] Questions and Answers 2023

appreciation - -an increase in the value of a currency as measured by the amount of foreign currency it can buy -automated clearing house - -an electronic payment network available to businesses, individuals and financial institutions in the US, US terriroties, and Canada -barter system - -an economic system in which goods or services are traded without the exchange of money -collateral - -Something of value that a borrower lets the lender claim if a loan is not repaid -commodities - -goods that have value -credit cards - -a card that allows a person to charge at the moment and pay later -credit unions - -Nonprofit, member-owned financial cooperatives that offer the full variety of banking services to their members -currency - -system of money -debit card - -a bank card that automatically deducts the amount of a purchase from the checking account of the cardholder -demand deposits - -money kept in checking accounts that can be withdrawn by depositors on demand -depository institutions - -Organizations licensed to take deposits and make loans. -depreciation - -a decrease in price or value