Chp. 7 money and borrowing

Description

business Mind Map on Chp. 7 money and borrowing, created by nkeely14 on 07/11/2013.
nkeely14
Mind Map by nkeely14, updated more than 1 year ago
nkeely14
Created by nkeely14 almost 11 years ago
17
0

Resource summary

Chp. 7 money and borrowing
  1. ATMand PIN
    1. ATM
      1. Aotomated Teller Machine
      2. PIN
        1. Personal Identification Number
      3. Forms Of Money
        1. barter
          1. swapping
          2. cash
            1. notes/coins
              1. legal tender(must be taken to pay
            2. cheques
              1. person with current a/c can write cheques
              2. Laser card(debit card)
                1. used to pay for shopping,can also get cash at checkout with it
                  1. cheaper than cheque
                  2. credit card(mastercard,visa)
                    1. buy goods/services now and pay later
                      1. must pay all or installment each month
                        1. high interest on balance
                        2. charge card
                          1. like credit card but you must pay all balance at statement each month
                        3. good places to save your money
                          1. post office
                            1. money safe
                              1. always one near
                                1. no DIRT tax
                                  1. saving certificates
                                    1. saving bonds
                                      1. instalment savings
                                      2. building society
                                        1. to get a mortgage loan to buy house
                                          1. begin by opening savings a/c
                                            1. save money by buying shares in the society
                                          2. credit union
                                            1. almost always one nearby
                                              1. entitled to get loan at low interset rate
                                                1. offer 2 main a/c
                                                  1. savings a/c
                                                    1. get dividend(interest) each year
                                                      1. dividend paid relates to amount of cash in credit union and a/c
                                                    2. deposit a/c
                                                      1. higher interest then the bank
                                                  2. commercial bank
                                                    1. AIB,bank of ireland,ulster bank
                                                      1. deposit a/c
                                                        1. save money,earn interest
                                                        2. current a/c
                                                          1. get a cheque book
                                                            1. no interest,not good for saving
                                                        Show full summary Hide full summary

                                                        Similar

                                                        Forms of Business Ownership Quiz
                                                        Noah Swanson
                                                        Unit 3 Business Studies
                                                        Lauren Thrower
                                                        Contract Law
                                                        sherhui94
                                                        AQA Business Unit 1
                                                        lauren_binney
                                                        Digital Marketing Strategy - The Essentials
                                                        Micheal Heffernan
                                                        What is Marketing?
                                                        Stephanie Natasha
                                                        Chapter 18 - Marketing mix(Product & Price)
                                                        irene floriane
                                                        Market Segementation
                                                        Noah Swanson
                                                        Business Studies - AQA - GCSE - Business Studies Key Terms
                                                        Josh Anderson
                                                        Business Marketing
                                                        s1500782
                                                        3. Enterprise, business growth and size
                                                        shlokashetty98