VS 4d

What is a good or service owed to another person?

• debt
• credit
• money
• savings

What form of exchange was NOT commonly used in the VA colony?

• barter
• credit
• money
• savings

What is a medium of exchange?

• money
• credit
• savings
• debt

Colonial Virginia did not have banks and paper and coin money was rare. What did many colonists use AS money?

• beads

• fur

• tobacco

• corn

What is it called when someone buys a good or service now and pays for it later?

• credit
• cash crop
• debt
• money

What is it called when you trade one item you own with another item owned by someone else (WITHOUT the use of money)

• Currency
• Barter
• Savings
• Debt

Money put away to save or spend later is called ____________.

• debt
• money
• credit
• savings

Colonial Virginia had _______ banks.

• no
• few
• many
• 15