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Content Quiz #2 3rd 6 Weeks Economics

Authored by jay hutson

Social Studies

12th Grade

20 Questions

Used 3+ times

Content Quiz #2 3rd 6 Weeks Economics
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money or other substance generally accepted as payment for goods and services.

Measure of value

Medium of exchange

Scarcity

Store of Value

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1 of the 3 functions of money that allows it to serve as a common denominator to measure value.

Measure of value

Store of value

Divisibility

Medium of exchange

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1 of 3 functions of money allowing people to preserve value for future use.

Store of value

Divisibility

Portability

Measure of value

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This can be used in place of money.

Fiat money

Federal reserve notes

National currency

Trading or bartering

5.

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.

6.

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

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Money is a medium of exchange, measure of value, and store of value these are examples of?

functions of money

federal reserve notes

formerly used currencies

characteristics of money

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