Money and Savings Flashcardizz On TCI ECON Lesson 8

Front

What are the three basic functions of money?

Back

Medium of exchange, standard of value, store of value

Front

Which characteristic is the most important for money? Options: Durability, Divisibility, Acceptability, Portability

Back

Acceptability

Front

What does FDIC stand for?

Back

Federal Deposit Insurance Corporation

Front

What is the primary role of the Federal Reserve System?

Back

To oversee and regulate banks

Front

What is a mortgage?

Back

A loan used to buy real estate.

Front

What is the rule of 72 used for?

Back

Determining how long it takes for an investment to double

Front

What is the main difference between stocks and bonds?

Back

Stocks represent ownership in a company, while bonds are loans to the issuer

Front

What is the purpose of a mutual fund?

Back

To collect and manage securities for investors

Front

What does asset allocation involve?

Back

Dividing assets among different types of investments

Front

What is the main concern with a cashless society?

Back

Increased spending and debt