Grade 7 EMS Term 1 Quiz 2025 SPC

Grade 7 EMS Term 1 Quiz 2025 SPC

7th Grade

40 Qs

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Grade 7 EMS Term 1 Quiz 2025 SPC

Grade 7 EMS Term 1 Quiz 2025 SPC

Assessment

Quiz

Business

7th Grade

Practice Problem

Medium

Created by

Andisiwe Gcebo

Used 3+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What system did people use before money existed?

Credit system

Bartering

Online payments

Banking

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following was used as a form of money in ancient times?

Gold and silver

Paper and plastic

Diamonds and jewelry

Oil and coal

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one disadvantage of bartering?

It is easy to trade with anyone

People can only trade items they don’t need

It requires a double coincidence of wants

It allows for banking systems to develop

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why was paper money introduced?

It was lighter and easier to carry than coins

It was made of gold

It was only for the wealthy

It was harder to counterfeit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'medium of exchange' mean in terms of money?

Money can be stored for later use

Money is used to trade goods and services

Money has no real value

Money loses its value over time

6.

OPEN ENDED QUESTION

3 mins • 1 pt

True or False: Digital payments are a modern form of money.

Evaluate responses using AI:

OFF

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a need?

Something we can live without

Something necessary for survival

Something people want but don’t require

Something only the wealthy can afford

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