history of money

history of money

10th - 11th Grade

11 Qs

quiz-placeholder

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M&M L1.1 Act 2: Origins of Money

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history of money

history of money

Assessment

Quiz

Other

10th - 11th Grade

Practice Problem

Hard

Used 168+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Exchange of one good or service for another

Barter
Money 
Swindling 
Theft

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything that is used as a medium of exchange, a unit of account, and a store of value?

Fiat Money
Currency
Barter
Money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anything that is used to determine value in an exchange?

Currency
Store of value
Medium of exchange
Unit of account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Objects that have value in themselves as well as their value as a means of exchange are called?

Currency
Commodity money
Simple money
Customs

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the gold standard?

A system that uses actual gold coins as a country’s money
A system in which the country’s money is backed with gold
A currency system in which each dollar is worth 1/20th of a pound of gold
A money system in which the paper currency is good in more than one country

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fractional reserve banking is?

Device that allows it holder to buy goods based on a promise to pay
Specific type of loan that is used to buy real estate
System in which banks are split into smaller banks to allow people more access
System that keeps only a small part of a deposit on hand and lends out the rest

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three functions of money?

medium of exchange, store of value, unit of account
 medium of exchange, store of value, provides barter
store of value, medium of exchange, creates instability

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