ECONOMICS (SS 1)

Anything that is generally acceptable as a medium of exchange is called ____

• bank note

• money

• bank cheque

• barter trade

Looking for someone who in a need of what you have and at the same time has what you need is _____

• problem of borrowing

• problem of payment deferred

• problem of double coincidence of want

Trading which goods are exchange directly for goods without the use of money is _____

• money in circulation

• trade by barter

• service for wants

• trade by means

The problem of exchange rate determination between two products is called ____

• no fixed rate of exchange

• wastage of time

• no room for deferred payment

• no room for delay payment

The object that must be serve as money will have to last for a long time is called ___

• homogeneity

• portability

• scarcity

• durability

Recognisability is feature of ____

• cheque

• money

• trade by barter

• bank note

The object that must serve as money must be something that can easity to carried about characteristics known as ____

• portability

• homogeneity

• relatively scarce

• durability

The characteristics of money which make money that must be capable of divided into smaller units is called ____

• durability

• divisibility

• portability

• recognisabilty

The characteristics of money that make money to be stable is called ____

• stability

• durability

• portability

• divisibility

The precious metal made of silver,which have defined amount of metallic content is called _____

• token money

• cions

• deposit money

• fiat money