Economic Glossary | Plastic Money | Bankers Algo
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-by Eleanor Roosevelt

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Economic Glossary

    Plastic Money

A slang phrase for credit cards, especially when such cards used to make purchases. The "plastic" portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The "money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply.


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Banker's Algo Daily Dose

Word of the day

Forfeit(n)

Meaning:

something given as sacrifice

Synonyms: cost, damages, fine, loss

Antonyms: gain, victory, win

Apti Question of The day

Question

If 2x + 3y + z = 55, x + z – y = 4 and y – x + z = 12, then what is the value of y?

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