Grade 12 First Term Assessment ( Grade11T2)

When inflation is high the _____of the dollar decreases

• cost value

• importance

• purchasing power

• validity

What is inflation?

• rise in all prices

• rises in some prices

• rise in most prices

• rise in genral prices

An index that measures the prices of a market basket of goods that typical consumers purchase

• consumer price index

• bank

• deflation

• central bank

What two types of inflation are there?

• demand pull and cost push

• supply glut and demand side

• demand pull and supply glut

• supply inflation and demand inflation

Which of the following groups suffer in times of inflaiton

• borrowers

• taxpayers

• lenders

• property investors

Barter is

• exchanging goods for money

• exchanging goods for goods

• offering less than the asking price

• offerieng srvices which do not have VAT added

How many problems occured as a result of the barter system

• 2

• 4

• 6

• 8

What is the main quality of money

• durable

• acceptable

• divisible

• portable

How may functions of money?

• 2

• 4

• 6

• 8

Which bank service is most useful to a person visiting another country?

• safe deposits

• travellers' cheques

• a budget account

• bank giro credit