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Econ Unit 3

Authored by Paul Stone

Financial Education

12th Grade

Used 4+ times

Econ Unit 3
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What is meant by "legal tender" in the context of money?

Money that is used to measure value

Money that must be accepted for purchases and debts

Money that is used to store goods

Money that is used to create services

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What is the most important characteristic of money?

Portability

Scarcity

Acceptability

Durability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Why is scarcity an important characteristic of money?

It makes money easy to carry

It ensures money is widely accepted

It adds value to money

It makes money durable

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What did Roman soldiers receive as part of their wages?

Gold coins

Silver bars

An allotment of salt

Copper tokens

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What is the main idea of this unit?

The history of salt

Characteristics of exchange and money

The value of pumpkins

The use of glass bowls in trade

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What is commodity money?

Money that has no intrinsic value

Money that is backed by government decree

A good that has value in trade and is used as a medium of exchange

Digital currency used in online transactions

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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What is a loan?

A gift of money with no expectation of repayment

A transaction where a lender gives money to a borrower who agrees to repay it

A deposit made in a bank

A type of commodity money

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