What is one of the primary functions of money in modern society?

History and Functions of Money

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Business
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9th - 10th Grade
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Hard

Patricia Brown
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To measure the value of goods and services
To eliminate the need for trade
To create wealth instantly
To serve as a medium for bartering
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a major challenge of bartering before the invention of money?
Finding someone with the exact goods or services you needed
The inability to save wealth
The lack of a common language
The high cost of transactions
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What items were initially used as a medium of exchange before coins?
Metals, animals, and seashells
Precious stones
Paper and ink
Digital currencies
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which civilization was the first to create coins from precious metals?
Egyptians
Lydians
Greeks
Romans
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why did the need for higher amounts of money increase as trade developed?
Because people wanted to save more wealth
Because of the difficulty in making payments with coins for high-volume transactions
Due to the scarcity of resources
Because coins were too heavy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a significant reason for the emergence of paper money in the 17th century?
The desire to eliminate coins
The scarcity of resources
The invention of printing technology
The need for a more durable currency
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do central banks play in the use of banknotes today?
They distribute coins to the public
They design and print banknotes with security features
They set the value of gold and silver
They create digital currencies
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