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Banking & Finance- Ch 12

Authored by Lenzi O'Connor

Business

9th - 12th Grade

Used 6+ times

Banking & Finance- Ch 12
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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which best describes the difference between bartering and the monetary system?

A. Bartering does not work in undeveloped countries, but the monetary system does.

B. Monetary means trading money for money, bartering means trading goods for goods.

C. Bartering means trading goods for other goods instead of using money as a standard of value.

D. Bartering is never used in developed countries, and only rarely in undeveloped countries.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is NOT considered money?

coins

currency

checks

services

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What happens if money is stable?

It loses its value

its value remains unchanged

its value fluctuates

it loses acceptance with most people

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a financial institution?

a bank account

a firm that manages money

a record of the amount of money a customer has

a medium of exchange

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is best for storing money for a few days?

checking accounts

savings accounts

electronic funds transfers

direct deposits

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How do banks make most of their money?

transferring money

collecting collateral

interest from loans

fees from checking accounts

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is NOT a type of bank loan?

mortgage

commercial loan

line of credit

safe-deposit box

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