BTEC Business Unit 3 LO:A Functions of Money
Authored by Ms Cave
Business
12th Grade
Used 138+ times
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10 questions
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1.
FILL IN THE BLANKS QUESTION
30 sec • 1 pt
How many functions of money are there?
(a)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identify the four functions of money
Unit of account, means of exchange, store of account and legal tender
Store of account, means of exchange, store of value and money tender
Unit of account, means of exchange, store of value and legal tender
Unit of account, means of exchange, store of tender and legal tender
3.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The acronym LUMS (also Scottish for chimney) can be used to remember the functions of money. What does the L stand for?
(a)
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Identify the function of money being explained
Money can be placed in a bank and then used in the future to buy goods and service.
Unit of account
Means of exchange
Store of value
Legal Tender
5.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The acronym LUMS (also Scottish for chimney) can be used to remember the functions of money. What does the U stand for?
(a)
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Identify the function of money being explained
Money is the official method of payment for goods and services and the national currency of a country.
Unit of account
Means of exchange
Store of value
Legal Tender
7.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The acronym LUMS (also Scottish for chimney) can be used to remember the functions of money. What does the M stand for?
(a)
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