1 - Introduction to banking & money

Before the idea of money, goods and services were traded for one another. This was known as...

• Barter

• Exchange

• Redeem

• Offload

The earliest known coins date from around...

• 650 BC

• 250 BC

• 1200 AD

• 1500 AD

Choose all the statements that are TRUE with regards to barter...

• Good for small economy with limited goods

• Difficult if goods cannot be divided up

• Relies on buyer and seller agreeing value

• Prices of goods are set by a third party

Why is money a better method of exchange than barter?

• Fixed value

• Easily portable

• Easily divisible

• Retains value over time

A bank account has become necessary in modern life.

• True

• False

The main source of money for a 10 year old will probably be...

• Income

• Pension

• Pocket Money

• Gambling

• Benefits

The main source of money for a working adult will probably be...

• Income

• Pension

• Pocket Money

• Gambling

• Benefits

The main source of money for a disabled person who is unable to work will probably be...

• Income

• Pension

• Pocket Money

• Gambling

• Benefits

The main source of money for a disabled person who is unable to work will probably be...

• Income

• Pension

• Pocket Money

• Gambling

• Benefits

The main source of money for an elderly couple will probably be...

• Income

• Pension

• Pocket Money

• Gambling

• Benefits