Search Header Logo
Unit 7: Money, Banking & Monetary Policy

Unit 7: Money, Banking & Monetary Policy

Assessment

Flashcard

•

Business

•

12th Grade

•

Practice Problem

•

Hard

Created by

Talia Kambe

FREE Resource

Student preview

quiz-placeholder

53 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is money?

Back

Money is anything people accept in exchange for goods, services, and payment for debts.

2.

FLASHCARD QUESTION

Front

Define liquidity.

Back

Liquidity refers to the ease with which an asset can be converted into cash without affecting its market value.

3.

FLASHCARD QUESTION

Front

What are the functions of money?

Back

1. Medium of exchange 2. Unit of account 3. Store of value 4. Standard for deferred payment.

4.

FLASHCARD QUESTION

Front

What are the characteristics of money?

Back

1. Portable 2. Acceptable 3. Scarce 4. Stable 5. Difficult to counterfeit 6. Divisible.

5.

FLASHCARD QUESTION

Front

What is fiat money?

Back

Fiat money is money that is decreed by the government and has little value as a commodity.

6.

FLASHCARD QUESTION

Front

What is commodity money?

Back

Commodity money is an object used as a medium of exchange that has substantial value in alternative uses.

7.

FLASHCARD QUESTION

Front

What is the difference between narrow and broad definitions of money?

Back

Narrow definitions include items that can be spent directly (like cash), while broad definitions include items that can be converted into cash but are not directly spendable (like savings accounts).

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?