Grade 7 EMS Term 1 Quiz 2025 SPC
Authored by Andisiwe Gcebo
Business
7th Grade
Used 13+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What system did people use before money existed?
Credit system
Bartering
Online payments
Banking
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following was used as a form of money in ancient times?
Gold and silver
Paper and plastic
Diamonds and jewelry
Oil and coal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one disadvantage of bartering?
It is easy to trade with anyone
People can only trade items they don’t need
It requires a double coincidence of wants
It allows for banking systems to develop
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why was paper money introduced?
It was lighter and easier to carry than coins
It was made of gold
It was only for the wealthy
It was harder to counterfeit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'medium of exchange' mean in terms of money?
Money can be stored for later use
Money is used to trade goods and services
Money has no real value
Money loses its value over time
6.
OPEN ENDED QUESTION
3 mins • 1 pt
True or False: Digital payments are a modern form of money.
Evaluate responses using AI:
OFF
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a need?
Something we can live without
Something necessary for survival
Something people want but don’t require
Something only the wealthy can afford
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