
Barter VS MONEY
Quiz
•
Business
•
7th Grade
•
Practice Problem
•
Hard
Tachell Johnson
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary difference between barter and money as methods of exchange?
What is the primary difference between barter and money as methods of exchange?
Barter involves indirect exchange, while money involves direct exchange.
Barter requires a double coincidence of wants, while money is direct exchange.
Barter is widely accepted, while money is limited in scope.
Barter is durable, while money is portable.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which characteristic of money ensures that it can be easily carried and transported?
Durability
Divisibility
Uniformity
Portability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What function of money allows for transactions to occur over time by serving as a means of settling debts and making future payments?
Store of value
Way of deferring payments
Unit of account
Medium of exchange
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of money that ensures its easy recognition and acceptance?
Divisibility/Broken down into smaller units
Portability/ Easy to carry
Durability/Long Lasting
Uniformity/Homogeneity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a significant development in the history of money during the 20th century?
Barter system trading began
Adoption of metallic standards
Emergence of digital currencies
Introduction of paper money
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Barter requires a double coincidence of wants.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Barter involves the use of money.
Barter involves the use of money.
TRUE
FALSE
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