Economics: Money And Banking |8 Questions| With Correct Answers.

Loan {Ans: money borrowed from a bank to achieve a personal or business goal. The PRINCIPAL and INTEREST must be paid back}Deposit {Ans: money put in the bank for safe-keeping, and to earn interest}Financial Capital {Ans: economic resource used to make products or provide services}Credit Union {Ans: a non-profit bank}Credit {Ans: Money you borrow}Inflation {Ans: an increase in the cost of living, and a decrease in what you can buy with your money}Interest {Ans: amount bank pays people to deposit money, AND the amount bank charges people to borrow $$}Bank {Ans: a business that stores money and facilitates the transfer of money from savers to borrowers}