History of Money

Although the origins of coins is uncertain, there is evidence of coins in existence in ______ as far back as 650 B.C.

• Greece

• Australia

• Argentina

• Romania

3,000 years ago, what type of things people used to use as money?

• squared stones

• round stones

• shells

• plants

Where did the first coins appear?

• China

• Egypt

• Ecuador

• The United States

Most coins at the beginning were made of expensive metals like bronze, silver or gold?

• Yes

• No

Money in the United States is which type of money?

• fiat money

• representative money

• commodity money

• speculative money

A type of money that is backed by a material, such as gold, is referred to as

• certificate money

• representative money

• fiat money

• commodity money

Commodity money can be best described as money that is

• backed up by a valuable material

• valuable based on the material that the money is made from

• used to purchase valuable materials

• valuable because a government says it is and people accept that it is valuable

1,000 years ago people started using paper money?

• Yes

• No

How people used to get products or services before the existence of money?

(a)  

Which of the following is an example of commodity money?

• Gold coins

• Paper money

• Credit cards

• Digital currencies