Barter system

Barter system

9th - 12th Grade

10 Qs

quiz-placeholder

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Barter system

Barter system

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

Malika Morgan

Used 21+ times

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10 questions

Show all answers

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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