Money Skills: Chapter 1

What is one saying about money mentioned in the text?

• Money grows on trees.

• Money makes the world go round.

• Money can buy you happiness.

• Money is the root of all evil.

What was used as money around 9000-6000 BC?

• Livestock

• Gold and silver

• Digital currency

• Paper money

What significant event happened in 1792?

• The US Dollar was established.

• Gold was discovered.

• The first paper money was created.

• Bartering was invented.

What does the term 'salary' originate from?

• Silver

• Gold

• Livestock

• Salt

What is bartering?

• Exchanging goods and services

• Using coins to buy items

• Investing in stocks

• Saving money in a bank

What was a flaw of bartering?

• It was only used for large items.

• It required both parties to want what the other had.

• It was a fast process.

• It was easy to compare values.

What form of money first appeared in China?

• Paper money

• Digital currency

• Livestock

• Coins

What does money represent?

• A form of debt

• A physical object

• A promise of value

• A type of investment

What is savings?

• Money set aside for future use

• Money used for investments

• Money spent on luxuries

• Money borrowed from a bank

What is the purpose of budgeting?

• To save money

• To track income and expenses

• To invest in stocks

• To pay taxes