Barter system
Authored by Malika Morgan
Business
9th - 12th Grade
Used 21+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a major disadvantage of the barter system?
A. It requires a double coincidence of wants.
B. It is not durable.
C. It is not divisible.
D. It is not portable.
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is the primary functions of money as a "medium of exchange"?
A. It measures the value of goods and services.
B.It facilitates trade and commerce.
C. It stores wealth over time.
D. It serves as a unit of account.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a characteristic of money?
A. Divisibility
B. Portability
C. Durability
D. Inflationary
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe the ability of money to hold its value over time?
A. Liquidity
B. Store of value
C. Unit of account
D. Medium of exchange
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is money more efficient than the barter system?
A. It reduces transaction costs.
B. It eliminates the need for a double coincidence of wants.
C. It allows for specialization and division of labor.
D. All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of commodity money?
A. Paper currency
B. Gold coins
C. Credit cards
D. Bank deposits
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gold is easy to transport.
True
False
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