What are the three main purposes of money?
Money and Finance

Quiz
•
Other
•
9th Grade
•
Hard
Erika Sente
Used 1+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To act as a medium of exchange, store of value, and unit of account
To act as a medium of exchange, store of wealth, and unit of measurement
To act as a medium of transaction, store of value, and unit of measurement
To act as a medium of transaction, store of wealth, and unit of account
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the barter system?
A system where goods and services are exchanged directly without the use of money
A system where money is used as a medium of exchange
A system where goods and services are exchanged for gold
A system where goods and services are exchanged for stocks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between money and currency?
Money is a broader concept that includes currency as a form of medium of exchange
Currency is a broader concept that includes money as a form of medium of exchange
Money and currency are the same thing
Money and currency are not related to each other
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Bitcoin?
A virtual currency that is not issued or regulated by a specific country
A physical currency made of gold
A digital currency issued by the government
A form of barter system
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do we need a financial system?
To facilitate lending and borrowing between lenders and borrowers
To control the flow of money in the economy
To ensure that everyone has equal access to money
To eliminate the need for money
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of banks in the financial system?
To collect deposits from lenders and provide loans to borrowers
To regulate the stock market
To issue currency and coins
To facilitate barter transactions
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between debt and equity?
Debt is a loan that needs to be repaid with interest, while equity represents ownership in a company
Debt represents ownership in a company, while equity is a loan that needs to be repaid with interest
Debt and equity are the same thing
Debt and equity are not related to finance
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