Money and Markets

If you said a place where you buy groceries, you are right!

But there are other kinds of markets, too. Markets help people get the things they want and need.

Everyone who buys or sells goods or services is part of a market.

Most people use money to pay their bills and to buy things their families need.

Many people also save some money for the future. Some people save money to buy things like a car or a house.

Banks will loan you money when you need it. The bank will charge you interest on the loan.

Interest is a fee someone pays for using money.

When you borrow money, you have to sign papers that say you will pay it back.

Banks are safe places to keep your money. If you put money in the bank, you will earn interest.

The bank is using your money, so they pay the fee.

People around the world depend on each other. The United States does not produce everything our citizens need and want.

We get goods from other countries. We send goods to markets in other countries, too.

Many people use credit cards. Credit cards let you buy something now and pay for it later.

You will often have to pay interest, too. Banks give credit cards to people who agree to pay for the things they buy.

Not very long ago, every country in Europe had a different kind of money.

In 2002, some European countries decided that it would be easier if they used the same kind of money.

Today, people in France, Germany, Italy and many other countries use the Euro.