Quiz #1 Money

Quiz #1 Money

12th Grade

9 Qs

quiz-placeholder

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Quiz #1 Money

Quiz #1 Money

Assessment

Quiz

Business

12th Grade

Easy

Created by

Davina Urbina

Used 4+ times

FREE Resource

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 2 pts

The direct exchange of goods and services for other goods and services

Barter

Direct exchange

Money

Subsistence economy

2.

MULTIPLE CHOICE QUESTION

3 mins • 2 pts

Anything that is acceptable as a means of settling debts.

Money

Barter

Indirect exchange

Subsistence economy

3.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Which characteristic of money describes its ability to withstand being used repeatedly?

Portability

Divisibility

Durability

Scarce

4.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Today different notes and coins convey fractional values since money must be

divisible.

portable.

durable.

scarce.

5.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

There are restrictions on the amount of money in circulation to ensure that values remain relatively constant. This feature of money is known as

durability.

divisibility.

scarcity.

homogeneous.

6.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Individuals must be able to carry money and transfer it easily to other individuals. Therefore, money must be

divisible.

durable.

portable.

scarce.

7.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Money can be used as a means to compare values of goods and services. Therefore, money acts as a

medium of exchange.

store of value.

standard of deferred payment.

unit of account.

8.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Money can be used to pay for a good in the future while enjoying the good today. Therefore, money acts as a

medium of exchange.

store of value.

standard of deferred payment.

unit of account.

9.

MULTIPLE CHOICE QUESTION

2 mins • 3 pts

Money eliminates the problem of double coincidence of wants and acts as a common ground for determining value . Therefore, money acts as a

medium of exchange.

store of value.

standard of deferred payment.

unit of account.