Vocabulary about MONEY in english classes.pptx

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1. MONEY VOCABULARY

2. Lead-in Where is the place you buy the most? Are you good at saving money?

3. MOBILE WALLET A mobile wallet is a virtual wallet that stores information from a credit card, a debit card, coupons, and loyalty cards on a mobile device . Mobile wallets allow users to make in-store payments without having to carry cash or physical credit cards.

4. PAYMENT Payment is the exchange of money, goods, or services for goods and services in an acceptable amount to both parties and has been agreed upon in advance . You can pay with cash, a check, a wire transfer, a credit card, a debit card, or even cryptocurrency. Understanding Payment.

5. CURRENCY A currency is a standardization of money in any form, in use or circulation as a medium of exchange , for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state.

6. Tax Revenues is income generated by governments through taxes . Taxes include those collected from income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes.

7. Cashless Economy A cashless economy refers to a system where digital transactions have taken completely over physical cash . Instead, digital channels such as debit cards, credit cards, internet banking, mobile wallets, electronic fund transfers and digital currencies are used to carry out day-to-day transactions.

8. Penny a monetary unit of the United Kingdom formerly equal to ¹/₂₄₀ pound but now equal to ¹/₁₀₀ pound, pennies : cent While paying Medicare taxes is routine for workers, a gilded few have been paying not a penny .

9. The Financial System A financial system is a set of institutions and practices that facilitate and allow for the exchange of funds between borrowers, lenders and investors . Financial systems exist on firm-specific, regional and global levels. They include institutions like: Banks

10. Project