Business Studies | Commerce Term III Year 7

Which one of the following is not a money function?

• Measure of value

• Barter trade

• Storehouse of value

• Medium of exchange

Exchanging a watch for a shoe can be termed as _________

• exchange
• export

• barter trade

• import

What term is used for:
Money being accepted by law as a settlement of debt or payment of goods and services.

• Legal tender
• The star coin

• Currency exchange
• Barter system

When choosing a product, money is useful because it is a ____________

• form of savings
• medium of exchange
• type of investment
• means of communication

Gold is a good money material because it is ________

• only valuable in jewellery making.

• a lasting metal.

• a measure of value.

• accepted by all.

A good money material must have all the below qualities except:

• Perishable
• Durable
• Divisible
• Acceptable

What is the primary function of money in an economy?

• Measure of time

• Source of credit

• Medium of exchange

• Store of wealth

In a barter system, goods are exchanged directly for ________.

• other goods

• money

• services

• credit

How come we don't do barter trades anymore?

• It's easier to find someone to exchange good.

• Difficult to find coincidence of wants.

• It's not so easy to disagree on the exchange value of goods.

• It's easy to back out on a trade agreement

Money plays an important role in service and goods' exchange.

• True
• False