Banking Concepts and Transactions

Banking Concepts and Transactions

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

Created by

Mia Campbell

FREE Resource

The video explores the concept of using non-physical gold as a unit of exchange, introducing the idea of banknotes and checks. It begins with a balance sheet of a fictional bank, where citizens deposit gold and receive banknotes. The video demonstrates transactions using these notes, highlighting the convenience of not having to carry physical gold. It also introduces checks as a method for large transactions, explaining how they facilitate the transfer of funds without exchanging cash. The video concludes with a brief mention of lending money without gold.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary concept introduced at the beginning of the video?

Building a bank with gold

Depositing gold in a vault

Using non-physical gold as a unit of exchange

Using physical gold as currency

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Citizen A do with his 500 gold pieces?

Keeps them at home

Exchanges them for silver

Deposits them in the bank

Buys a house

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the bank handle Citizen A's deposit?

Keeps all in cash

Splits between cash and checking account

Invests in stocks

Converts to silver

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main similarity between Citizen A and Citizen B's transactions?

Both split their deposit between cash and checking

Both invest in real estate

Both receive all cash

Both deposit the same amount

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the advantage of using banknotes for transactions?

They are harder to forge

They are heavier than gold

They are easier to carry and exchange

They are more valuable than gold

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the apple transaction, what is exchanged between A and B?

Silver coins

Banknotes and an apple

Gold coins

A check

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key benefit of using checks for large transactions?

They eliminate the need for physical cash

They are anonymous

They are faster than banknotes

They are less secure

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