WorksheetsEvolution of money
Total questions: 25
Worksheet time: 25mins
The barter system is the exchange of goods and cash.
True
False
Trade is the exchange of goods and __________.
business
services
Which of these is an example of a good?
babysitting
an iPad
Before money, people bartered what they had for what they needed.
True
False
Which one of these is a limitation of barter system?
Lack of double coincidence of wants
Lack of store of value
Lack of common measure of value
All of these
The exchange of goods and services is made more efficient by:
Barters
Money
Governments
Some combination of government transfer and barter
Money has what if it can be broken down into smaller units so it can be used as needed?
Divisibility
Portability
Scarcity
Durability
The feature of money which states it must be identical in look, size and weight is called...
acceptable
homogenous
portable
divisible
Which of the following is NOT a function of money?
Medium of exchange
A standard for posponed payment
Measure of value
A standard of viability
Mya told her brother Dave that money must be able to pass form hand to hand without being easily destroyed. Mya is describing which feature of money?
Portability
Divisibility
Durability
Acceptability
Which of the following instruments of exchange permits customers to lodge queries or complaints via the telephone?
E-commerce
Electronic Transfer
Tele-banking
Mobile Money
Businesses can advertise, purchase materials and sell their
products over the internet using which of the following instruments
M-money
E-commerce
Bill of exchange
Telephonic money order
A CREDIT CARD is used to make payments electronically with funds from your own bank account.
False
True
Purchases can be made using your smartwatch, tablet, or smartphone using this instrument
E-commerce
Mobile wallet
Credit card
Debit card
This instrument notifies the buyer that a specific sum of money is due to the seller at a specific time in the future
Tele-banking
Bank draft
Bill of exchange
Cheque
___________ ____________ are the movement of money from one bank to another bank.
(a)
The name of the payee on this cheque is
(a)
The name of the drawer on this cheque is
(a)
The card pictured here is a
Debit Card
Credit Card
Which of the following BEST describes "direct production"?
Producing goods for export
Producing to satisfy family with no surplus for trade
Producing to satisfy family with surplus for trade
Enterprises critical to the survival of the economy
Money is used to pay for goods bought on credit.
Medium of exchange
Store of Value
Means of deferred payment
Price mechanism or unit of account
Which is an example of a post-dated cheque
A cheque with today's date
A cheque with a dated one year from today
A cheque with yesterday's date
A cheque with dated one year ago
One of the reasons persons like to use cheques is that
It is very cumbersome to carry around
It is easy to carry around
The paper can tear easily
It gives you cash on the spot
What's another name for a 'bounced' cheque?
not good
bankrupt
dishonoured
no money
Which of these is NOT a key element of a cheque?
Reference Number
Amount in figures
Date
Amount in words
