J2E Money and Investment Review

How did people "pay" for items before the invention of money?

• They just took what they wanted.

• They bartered for things.

• They used diamonds.

• They gave each other whatever was needed, free of charge.

Why was writing invented?

• So people could keep journals.

• To keep track of who owed what.

• So people could write fanfics.

• To create a new kind of job.

What do we call a record of someone owing another person something?

• A UFO

• A UOMe

• An IOU

• An UOkBro?

Which of the following is an example of units of account used before the invention of money?

• Seashells

• Gold coins

• Sticks

• Long nails

What is a Medium of Exchange?

• A medium-sized exchange

• A place to trade stocks

• A convenient way to swap things

• A person who see ghosts

What is Commodity Money?

• Money made by toilets

• Objects that have no use

• Money in computers

• Things that are useful

What is main problem with using commodity money?

• It can be found easily.

• It is expensive to make.

• You must trust the other people.

• Nobody wants to use it.

What is the name of the object used to see if gold coins were pure gold?

• A Gold Checker

• A Scratchstone

• A Testerstone

• A Touchstone

What is the name given to paper money?

• Representation Bills

• Representative Money

• Replacement Cash

• Representing Moolah

What is a cryptocurrency?

• Money made of precious stones

• Money linked to paper bills

• Money that is only in computers

• Money used by Bigfoot