Grade 8 money quiz

A type of farming where people produce everything they need to survive is called ...

• subsistence economy

• industrialized economy

• agricultural economy

• survival economy

A system of trade where goods of similar value are exchanged is known as ...

The first evidence of money(1200BC) was in the form of ...

• silver coins

• cowry shells

• paper money

• bronze coins

A payee is somebody who receives money.

• True

• False

Three advantages of internet banking and shopping are ...

• available 24 hours a day

• you can check the quality of the product before you buy

• saves on travelling and time

• more choices of products

• your personal information is always safe

Three disadvantages of bartering are ...

• it is not always practical

• goods are easy to carry

• it was difficult to find what you were looking for

• goods can be divided into smaller units

• there is no common measure of value

An economy where businesses encourage people to buy their goods or services is called a..

• consumer economy

• urban economy

• subsistence economy

• diplomatic economy

Which one of these features makes money a suitable medium of exchange?

• it is durable

• there is plenty of it

• it is not portable

• it cannot be divided into smaller units

According to Maslow the base(bottom) of the pyramid in his theory refers to a need for...

• survival

• security

• self-esteem

• self-actualization

Pick 3 needs that would be considered social needs ...

• the need to feel part of a group

• the need to give and receive love

• the need to have friends

• the need to achieve success

• the need for food to eat