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FHS 11ABC Mini Quiz Unit 4

Authored by Kevin Morales

Social Studies

12th Grade

11B covered

Used 7+ times

FHS 11ABC Mini Quiz Unit 4
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the most accurate definition of "money".

Money is anything generally accepted in payment for goods or services or in the repayment of debts.

Money is anything recognized in trading and transaction for goods.

Money is legal currency that is released by banks to satisfy the financial needs of the people.

Tags

11A

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The primary function of money is

the store of value function

the medium of exchange function.

the unit of account function

the savings function.

Tags

11A

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This can be used in place of money.

Fiat money

Cash

National currency

Trading or bartering

Tags

11B

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between representative money and fiat money is that

representative money is worth more than fiat money.

fiat money is counted in coins; representative money is counted in paper dollars.

fiat money is more durable than representative money.

representative money is backed by silver or gold, ; fiat money is not.

Tags

11B

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT one of the characteristics of money?

durable
stable
scarce
affordable

Tags

11B

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is money that has another useful purpose.

fiat
commodity
debt
securities

Tags

11B

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Hefty fees may be charged if you spend more than what is in the account.

Debit Card

Credit Card

Both

Tags

11C

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