17.1 Money Quiz

What is the basic function of money?

• Store of value for future purchases

• Inexpensive to produce

• Can count and measure it

• Convenient and easy to carry

Which is not a characteristic of our currency?

• Supply is easily controlled

• Medium of exchange

• Inexpensive to produce

• Easy to carry and use

Our market economy could not work without what?

• Bartering

• Interest

• Trade

• Money

(a)   is coins and paper bills used as money in an economy.

In the past, which objects were used as money?

• Salt

• Gold

• Fur

• All the above

What are the 6 characteristics of money?

Our currency is accepted in exchange for goods and services because it is what?

• It is in the Constitution

• It is used by banks

• It is backed by our government

• It plays an important economic role

Which is not a function of money?

• Store of value for future purchases

• Medium of exchange between individuals

• Durable and not easily destroyed

• Standard of value for goods and services

(a)   is exchanging goods and services for other goods and services.

Which does not describe characteristics of our currency?

• Acceptable, durable, and convenient

• Can be measured and counted accurately

• inexpensive to produce and holds value

• Easy to save for future purchases