What is money?

What does 'barter' mean?

• It's what Barbarians used to use as currency.

• Using money to pay for goods and services.

• When Bart Simpson dances. It's called 'barter'.

• Trading goods and services without using money.

Which is NOT an example of a service?

• Waiter serving food at a restaurant.

• Shop owner selling fruit.

• Barber cutting hair.

• A doctor seeing patients at a clinic.

The value of a country's currency is NOT determined by....

• Political and economic conditions in a country.

• Projected guesses on whether the currency will rise or fall in future.

• Supply and demand of goods and services within a country.

• Your math grade.

The floating exchange rate system means that the currency value...

• Changes every day and is determined by the market.

• Stays the same as it is related to the US dollar.

• will float down river.

• will only go down as it is related to politics.

The fixed exchange rate system is where...

• It moves up and down and is related to the markets.

• The Government ensures that food is affordable.

• The Government ensures that the economy does not break.

• The Government tries to ensure that the value of the currency does not change.

Before money existed people used to...

• Use credit cards.

• Use coins to buy goods and services.

• Barter and negotiate for goods and services.

• Use crypto currency to purchase goods and services.

•There had to be gold of equal value in the government bank vault which was equivalent to the amount of ...

• Silver in the bank vault.

• cash ($) money in circulation

• Cows on a farm.

• Demand for goods and services.

After people decided that bartering was not a good idea, they started to...

• use cowry shells to trade goods.

• use crypto currency to buy goods.

• use gold to purchase goods and services.

• use cows to purchase goods and services.

Money is not

• Divisible

• Portable

• hard to forge

• Goods

Gold coins were too heavy to carry around so...

• IOU certificates were issued to the same value as the gold which was owed.

• People used wheel barrows to go take the gold with them when they went grocery shopping.

• The government created currency.

• people traded animals instead.