Studies Weekly, Week 27: Money Assessment

How did money become a medium of exchange?

• Money became a medium for exchange in ancient Egypt.

• The Egyptians melted metals into bars and shaped them.

• They used these bars as money.

• All of the above.

Which of the following is an example of bartering?

• a farmer selling his chicken eggs at a local market

• a farmer trading his chicken eggs for some wheat

• a farmer buying new chickens for his farm

• a farmer buying new chickens and then selling their eggs

What did people do or use before money was invented?

• People farmed and made the products they needed.

• People bartered for the goods or services they wanted.

• People used leaves like money.

• People relied on the kindness of family and friends.

Why were the first coins made in the United States in the 1650s?

• Pirates stole all of the existing coins.

• The government ran out of money, but they kept printing the paper money.

• The king of England passed a law that stated the colonies must have their own money.

• The coins from England were running out, so colonists decided to make their own money.

How did the printed money from the government called continentals become worthless?

• Pirates stole all of the existing coins.

• The government ran out of money, but they kept printing the paper money.

• The king of England passed a law that stated the colonies must have their own money.

• The coins from England were running out, so colonists decided to make their own money.

When did all people in the United States begin to use the same coins and bills as a medium of exchange?

• 1650

• 1775

• 1861

• 1913

Why can’t pictures of living people be printed on money?

• so that no person could mint coins as a sign of power

• so that no person could become famous by making money

• so that no person could print their own money

• so that the government can pick their favorite people to put on the money

Select all the statements that describe how money is recognizable, portable, divisible and durable?

• Money is recognizable because everyone knows what it looks like, and it does not change from state to state.

• Money is portable because it is easy to carry and it fits in your purse or wallet.

• Money is also divisible because you can spend some of it and get change.

• Money is durable because it can last a really long time.

In which country was paper money first used?

• the United States

• Japan

• China

• Israel

Which currency is the most popular among countries today?

• peso

• dollar

• euro

• pound