Revision quiz

What was the earliest form of money?

Fill in the blank: The items that people used to trade are called __________?

What is bartering?

• The exchanging of goods/services without using money, the exchange of goods and services without using money

• Paying with credit or debit cards instead of cash

• Saving money by using discount coupons

• Investing in the stock market for future profit

Why were coins stamped?

Is electronic banking safer than handling paper money? If so give a reason why. (Give your own opinion)

How were markets established?

Name 2 important characteristics of money

What is a need?

• Something you buy to show off to your friends

• A luxury item that makes life more enjoyable

• Something you cannot live without and is necessary for survival

• A new phone you want, even though your old one works fine

What is a want?

• Something you buy when you're bored

• A reward you give yourself after working hard

• The latest fashion trend you saw on social media

• A want is something that people desire to have, but are not necessary for survival

What are goods?