‘Credit‘ is very similar to a loan in that it always involves one party (a person or a business) allowing another person to re-pay their debt at a later date....
Building from the our discussion of ‘Simple Interest’, we now consider ‘Compound Interest’, which is the standard method of applying interest charges in the financial world. Home mortgages, credit cards,...
Productivity is a measure of how efficiently goods and services are produced. If you were to weave a basket twice as fast as me, then you would be twice as...
Inflation is an increase in the price of an average group of ‘goods’. It generally refers to the rate at which the cost of goods and services in a country...
‘Simple Interest’ or ‘Flat Interest’ would most typically apply in more casual settings, such as a friend lending you some money. Your friend might agree to lend you say $1000...
When you borrow money, or if a bank gives you a loan, there are two things that the bank will require of you: 1) that you will eventually repay the...
A debt is anything that is owed to another person, company, government agency (e.g. the tax office) etc. Debts are most typically loans of money from a bank, but there...
The word ‘asset’ or ‘assets’ is used a lot in a lot of different ways. The simplest definition of an asset is anything of value. So the most obvious types...
Supply and Demand is an important concept in coming to understand the principles of the prices, of goods and services, assets, investment products – really everything to do with money...
Goods and Services are often referred to in discussions about money, finance and tax. What do they mean? Goods are tangible items of value. So anything you can feel in...
