Functions of Money

Which of these is NOT one of the functions of money?

• Store of value

• Exchange for goods and services

• Legal tender

• Illegal tender

Which of these is a disadvantage of the bartering system?

• Relies on supply and demand in the same place.

• No set value of assets

• Unable to store value of assets over time

• All of the other answers

Which of these is (on average) the MOST expensive life event?

• Wedding

• Raising a child from birth to 18

• Buying a house in the UK

• Funeral

Which of these was NOT one of the six influences on our attitudes to spending?

• Life stages

• Culture

• External Influences

• Current bank balance

Which of these would be an example of an external influence?

• Social media influencer

• Personal beliefs

• Culture

• Life stage

Which of these is a key difference between personal and business finance?

• Individual vs Collective responsibility for finances

• Financal products

• Online banking

• Income and expenditure

Which of these is a similarity between personal and business finance?

• Tax rates

• Some financial products

• The way that transactions are recorded

• Having to register with companies house

When were the first metal coins produced?

• Around 500 AD

• Around 1200 AD

• Around 300 BC

• Around 1900 AD

Which of these is an advantage of paper notes over ancient coins?

• They weigh less so easier to carry

• More consistency (e.g, the notes look the same)

• Harder to forge

• All of the other answers

Why was it difficult to store value (save) prior to currency being invented?

• Assets eroded, died or were in some other way destroyed over time.

• No storage was available

• People couldn't count

• Cows kept running away.