Economics

Economics

10th Grade

12 Qs

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Economics

Economics

Assessment

Quiz

Business

10th Grade

Practice Problem

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Created by

Dwight Forbes

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12 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is not a function of money?

store of value

unit of value

standard of deferred payment

medium of exchange

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a feature of money?

portability

uniformity

divisibility

suitability

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the definition of broad money?

notes and coins, all chequing accounts and travellers’ cheques

notes and coins plus savings deposits and money market accounts

M1 plus money market accounts only

M1 plus savings deposits and money market accounts

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the role of the financial sector in the economy?

It attracts funds from lenders which it loans to firms, private individuals and the government.

It issues notes and coins for circulation.

It obtains foreign loans for the government

It lends money to individuals free of interest

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is part of the informal sector?

a credit union

an insurance company

a building society

a phone card vendor

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a function of the central bank?

It accepts deposits

It is banker for the government.

It makes loans to individuals.

It issues foreign currency

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a function of a commercial bank?

It issues notes and coins.

It sells insurance policies

It manages the country’s foreign exchange reserves

It makes loans to firms and individuals

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