What is money?

The process of directly exchanging one good or service for another.

• Trade

• Bartering

• Market

Metals were used as money for at least

• 2000 years

• 4000 years

• 1000 years

Coined metal or paper money upon which a government has impressed its stamp to designate its value is known as

• Credit

• Currency

• Money

Today, most paper money is called

• Fiat money

• Credit money

• Electronic money

In past, paper money used to be backed by

• Gold and silver

• metals

• wood

To avoid the difficulties of barter , _______________________ evolved.

The first people to introduce the use of gold and silver coins were the

• Chinese

• British

• Lydians

Many _______________communities took metals as their standard of value.

The currency used in UAE is

• Dollar

• Euro

• Dirham

The new invention of money that appeared about 300 years ago is

• paper currency

• gold coins

• silver coins