Who Invented Money? Quiz

Who invented money?

• The Greeks

• The Romans

• The Lydians

• No one knows for sure

What is money?

• Anything commonly accepted by people for the exchange of goods and services

• Only dollar bills and coins

• Only precious metals

• Only paper bills

What types of things have been used for money throughout history?

• Salt, tea, cattle, and seeds

• Only gold and silver

• Only paper bills

• Only coins

What is bartering?

• Trading goods and services without using money

• Saving money in a bank

• Using coins to buy goods

• Using paper money to buy services

What are commodities?

• Only paper bills

• Only precious metals

• Rare items used by collectors

• Basic items used by almost everyone

Who were the first Western culture to make coins?

• The Lydians

• The Egyptians

• The Romans

• The Greeks

What is representative money?

• Only paper bills

• Only gold and silver coins

• Paper bills and coins made of non-precious metals representing certain values

• Only digital currency

What does fiat money mean?

• Money that has value because the government says it does

• Money backed by silver

• Money that is only digital

• Money backed by gold

When was the first paper money issued in the United States?

• December 25, 1800

• March 10, 1862

• January 1, 1900

• July 4, 1776

What is the main problem with using commodities as money?

• They are not always easy to transport and often perishable

• They are too heavy

• They are too rare

• They are too valuable