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WorksheetsMoney and Banking
Total questions: 14
Worksheet time: 7mins
Which of the following is a commonly accepted definition of money?
Any good which is commonly uiesd as a store of value
Any good which is exchanged foe gold at a fixed rate.
Any good which is acceptable to a bank
Any good which is commonly accepted as medium of exchange
Deposits which are payable after the expiry of a fixed period are called -
time deposits.
demand deposits.
NONE
Easily transferred from 1 person to another, to make the exchange of money for products easier.
Durability
Portability
Divisibility
Scarcity
Money has what if it doesn't deteriorate when it is being handled?
Scarcity
Divisibility
Durability
Portability
What is money if it is available but only in a limited supply?
Portable
Durable
Divisible
Scarce
Money or other substance generally accepted as payment for goods and services.
Measure of value
Medium of exchange
Scarcity
Store of Value
A student records her income and spending for past month, she uses the function of money
Medium of exchange
Standard of deferred payments
Unit of account
Store of value
For which function, money is accepted as a unit of account?
Measure of value,
Medium of exchange
Standard of deferred payment
Store of value
A student records her income and spending for past month, she uses the function of money
Medium of exchange
Standard of deferred payments
Unit of account
Store of value
Easily transferred from one person to another, to make the exchange of money for goods/services easier
Durability
Divisibility
Portability
Scarcity
Money or other items generally accepted as payment for goods and services.
Measure of value
Medium of exchange
Scarcity
Store of Value
A saving account in a bank represents the function of money:
Store of value
A medium of exchange
A standard for deferred payments
A measure of value
