Functions of Money Quiz

Functions of Money Quiz

12th Grade

34 Qs

quiz-placeholder

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Functions of Money Quiz

Functions of Money Quiz

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

Jake Ebeling

FREE Resource

34 questions

Show all answers

1.

MATCH QUESTION

30 sec • 1 pt

Match the following functions of money with their correct descriptions.

Measures and compares the value of goods and services

Unit of Account

Facilitates exchange but does not communicate effectively

Medium of Communication

Provides power to machines, not an economic role

Means of Transportation

Facilitates movement of goods and people, not a direct function of money

Source of Energy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does money as a 'Medium of Exchange' eliminate?

The need for banks

The complications of bartering

The use of credit cards

The requirement for loans

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does money function as a 'Store of Value'?

By being easy to transport

By allowing for immediate consumption

By preserving purchasing power for future consumption

By measuring the value of goods and services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the function of money described as allowing individuals to buy goods and services without the complications of bartering?

Unit of Account

Store of Value

Medium of Exchange

Standard of Deferred Payment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which function of money involves using it to measure the value of goods and services?

Medium of Exchange

Store of Value

Unit of Account

Standard of Deferred Payment

6.

OPEN ENDED QUESTION

3 mins • 1 pt

How does money function as a 'Store of Value'?

Evaluate responses using AI:

OFF

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is money used for according to the text?

To create complications in trading

To buy goods and services without the complications of bartering

To make transactions more difficult

To decrease the efficiency of getting paid

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