Functions and Characteristics of Money

Functions and Characteristics of Money

7th Grade

10 Qs

quiz-placeholder

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Functions and Characteristics of Money

Functions and Characteristics of Money

Assessment

Quiz

Business, Other

7th Grade

Medium

Created by

Michele Edward

Used 117+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

1. In bartering economies, people trade what they __________ for what they ___________.

Own; buy

Buy; sell

Want; need

Have; need

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

One of the disadvantages of operating a barter system is that trading is

taking place without currency.

carried out in very large markets.

limited by availability and demand of goods traded.

conducted without consumer protections.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________________: a moneyless economy that relies on trade

fiat

commodity

barter

tallers

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Money should be portable. This means:

You can carry it easily.

It was originally designed in a port.

It is either rectangular or circular.

It is made out of paper.

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Money should be durable. This means:

You cannot light it on fire.

It must be tough so it doesn't break.

It should be cheap to mass produce.

It should be silver or gold.

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Money should be limited. This means:

You can control how much of it is in use.

It shouldn't be too heavy.

You should use items such as pebbles or leaves.

It should be either rectangular or circular.

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Money should be divisible. This means:

You can use smaller pieces of it if you want.

You can cut it in half and give both pieces to a vendor.

If it's lost someone must return it to you.

It must have a picture of a president on it.

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