Quiz on Cashless Society

What is a cashless society?

• A society that only uses coins

• A society that has no financial transactions

• A society where transactions are conducted electronically

• A society that only uses cash

What is one advantage of a cashless society?

• Higher crime rates

• Increased convenience

• More physical cash handling

• Less financial tracking

How does a cashless society affect crime rates?

• It lowers crime rates

• It makes crime easier to commit

• It has no effect on crime rates

• It increases crime rates

What is a potential disadvantage of going cashless?

• Lower transaction fees

• Easier tracking of transactions

• Vulnerability to hackers

• Increased privacy

What can happen if electronic payment systems fail?

• Merchants can still take payments

• Buyers may be unable to purchase items

• All transactions will be recorded

• Cash will become more valuable

What is one cost associated with maintaining cash?

• Storing money

• Lower transaction fees

• Increased privacy

• Less need for security

What might negative interest rates lead to in a cashless society?

• Lower bank fees

• Higher costs for customers

• Increased cash withdrawals

• More cash transactions

What is a benefit of cashless transactions while traveling?

• Higher transaction fees

• More physical cash handling

• Need to exchange currency

• No need to carry cash

What is a common use of cash in unlawful activities?

• Credit card payments

• Bank transfers

• Illegal gambling

• Online shopping

What is one reason businesses may prefer a cashless society?

• Higher transaction fees

• Increased security risks

• Lower operational costs

• More cash handling