LT: BANKS IN HISTORY

Where did the first banks appear more than 4,000 years ago?

• India

• Greece

• Egypt

• China

What did the first banks lend to people in the beginning?

• Grain

• Spices

• Gold

• Money

What did the lenders receive in return for lending grain to people?

• Nothing

• Extra grain

• Double the amount lent

• Jewelry

During which period did Italy become the center of European trade?

• Industrial Revolution

• Medieval

• Renaissance

• Enlightenment

What is the main function of banks as mentioned in the text?

• Lending cars

• Protecting money

• Selling products

• Exchanging currencies

What do people have to pay back to the bank when they borrow money?

• Half the amount

• Double the amount

• With interest

• The same amount

What is the name of the extra money people have to pay back to the bank?

• Profit

• Interest

• Bonus

• Dividend

What is the total value of the 10 biggest banks in the world?

• 100 trillion dollars

• 10 trillion dollars

• 25 trillion dollars

• 50 trillion dollars

What is the best investment according to the text?

• Real estate

• Stocks

• Education

• Gold

What is the main takeaway from learning about banks and economics?

• Investing in technology

• Traveling the world

• Making money

• Understanding society