Vocabulary Word Definitions

                (forms of exchange in the U.S. Colonies)

Barter -      Trading/exchanging of goods and services without the use of money.

Debt -         A good or service owed to another.

Credit -      Buying a good or service now and paying for it later.

Saving -      Money put away to save or to spend at a later time.

Money -     A medium of exchange (currency, which includes coins

                   and paper bills.)

Self-sufficient -  Producing your own food, clothing and shelter.

Interdependent -     Dependent on goods and services from others.

 BACK TO LESSON THREE