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WorksheetsBarter System & Functions of Money
Total questions: 11
Worksheet time: 6mins
Easily transferred from one person to another, to make the exchange of money for goods/services easier
Durability
Divisibility
Portability
Scarcity
Money has what if it doesn't deteriorate when it is being handled?
Scarcity
Divisibility
Durability
Portability
Money has what if it can be broken down into smaller units so it can be used as needed?
Divisibility
Portability
Scarcity
Durability
What is money if it is available but only in a limited supply?
Portable
Durable
Divisible
Scarce
Money or other items generally accepted as payment for goods and services.
Measure of value
Medium of exchange
Scarcity
Store of Value
This can be used in place of money.
Fiat money
Cash
National currency
Trading or bartering
What are the functions of money?
Unit of account
Store of Value
Medium of Exchange
Store of Bank Notes
Measure of Value
The function of money which allows people to preserve value for future use.
Store of value
Divisibility
Portability
Measure of value
Which of the following statements explain why a barter system restricts exchange?
There must be a coincidence of wants
It is difficult to divide certain commodities
The commodities used are not homogeneous
A rate of exchange must be determined
Which of the function is NOT a function of money?
Indivisibility
Measure of value
Store of value
Medium of exchange
Barter is BEST described as the
Purchase of goods and services using cheques
Exchange of goods and services using notes and coins
Process of exchange involving the use of money
exchange of goods and services without the use of money
