Getting What We Want and Need - Week 27 Assessment

Define the word “barter.”

• when you use money to buy something at the store

• when you trade something with someone else without the use of money

• when you trade services for money, like cutting someone’s grass

• when you use pennies from your piggy bank to buy a toy

Why did people decide to use mediums of exchange?

• Everyone wanted to trade eggs.

• No one wanted to trade furs.

• Sometimes people did not want what someone else had to trade.

• Seashells were pretty.

What were mediums of exchange used in the past?

• flowers and crops

• rice and beans

• shillings and pence

• seashells and chocolate beans

Why was paper money used instead of coins?

• It was easier to use.

• It was harder to use.

• It was prettier.

• It was too big to carry.

Who decides what currency looks like?

• countries

• states

• cities

• schools

What type of money does the U.S. use?

• pesos

• dollars

• yen

• euros

Who was involved in the decision to base our money system on the decimal system?

• George Washington

• Abraham Lincoln

• Benjamin Franklin

• Alexander Hamilton

What is trade?

• the exchange of seashells and beans

• the exchange of goods, services, or money

• the exchange of goods between an individual and a company

• the exchange of coins and paper money

What is specialization?

• when an individual, company, or nation focuses on what they produce so they can trade with others

• when an individual exchanges goods with someone who has money

• when a country imposes duties on imports in order to protect home industries

• when a country binds itself to a course of action

Geographic characteristics influence culture around the world by shaping living conditions, traditions, and societal organization.

• They provide natural resources and create environmental conditions that influence settlement patterns, economic activities, and cultural practices.

• They have no impact on culture.

• They only determine the language spoken in a region.

• They solely affect the artistic expressions of a community.