Barter, Money and Instruments of Exchange Intro Quiz

Quiz
•
Business, Other
•
6th Grade - University
•
Medium
Kerwin Alexander
Used 226+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following BEST describes "direct production"?
Producing goods for export
Producing to satisfy family with no surplus for trade
Producing to satisfy family with surplus for trade
Enterprises critical to the survival of the economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The greatest economic problem that economies face is the problem of:
Choice
Greed
Scarcity
Barter versus Trade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
John made Total sales revenue is $55,000 and his Total cost is $50,000. John has made ____
A loss of $5,000
A profit of $5,000
A loss of $55,000
A profit of $55,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An intangible benefit is called a ____
Good
Service
Commodity
Market
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following words could mean man-made resources?
Labour
Capital
Organisation
Market
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
All of the above are characteristics of money EXCEPT
Medium of exchange
Durable
Fungible
Legality
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
It can be accumulated and used to purchases a car in three years' time. It is.....
Medium of exchange
Store of Value
Means of deferred payment
Price mechanism or unit of account
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