What are the two main categories of money?

Types and Functions of Money

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Business
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9th - 10th Grade
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Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money with historical value and money without historical value
Money with intrinsic value and money without intrinsic value
Money with physical form and money without physical form
Money with government backing and money without government backing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of commodity money?
Paper currency
Gold
Digital currency
Credit card
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a drawback of using commodity money?
It is not widely accepted
Its value can fluctuate unpredictably
It cannot be used for large transactions
It is difficult to store
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is representative money?
Money that has intrinsic value
Digital currency
A token or certificate exchangeable for a commodity
Money issued by a bank
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why did people prefer representative money over actual commodities?
It was more colorful
It was more valuable
It was easier to carry
It was more durable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is fiat money?
Money with intrinsic value
Money backed by a commodity
Money authorized by a government
Money used in ancient times
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do people accept fiat money?
Because it has intrinsic value
Because it is accepted by the government and others
Because it is backed by a commodity
Because it is made of precious metals
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