Business Studies End of Term Revision Quiz

What is an example of a medium of exchange?

• money

• credit card

• cryptocurrency

• All of the answers are correct

Amna wants to open a pizza restaurant. What is the benefit of money here?

• Buy things we need

• Satisfy our wants

• start a business

• saving for the future

Ali saved his birthday money and Eid money to buy a new mobile phone. What is the function of money here?

• Assigning prices

• Delaying payment

• Medium of exchange

• Increasing wealth

Which function of money allows individuals and businesses to buy now and pay later?

• Medium of exchange

• Increasing wealth

• Assigning prices

• Delaying payments

Which function of money allows individuals to grow their wealth by saving

or investing their money? ??

• Medium of exchange

• Increasing wealth

• Assigning prices

• Delaying payments

Huda is travelling to the UK and wants to buy Great British Pounds. What is the best value?

• AED/GBP0.16

• AED/GBP0.12

• AED/GBP 0.20

• AED/GBP 21

What is the currency code for the EURO?

• AED

• EUR

• USD

• INR

What is the currency code for the Chinese Yuan?

• AED

• CNY

• SAR

• CUP

Meera is going to the USA. She has 6,000 AED to exchange. How many USD will she receive if the exchange rate is 1 USD =2.50

• 15000 USD

• 12000 USD

• 15500 USD

• 15550 USD

Shein Online shops want to open two (2) shops to expand their business. Recommend an appropriate financial product.

• overdraft

• bank loan

• sukuk

• car loan