WorksheetsMML201- 1
Total questions: 10
Worksheet time: 5mins
Digital money like UPI and payment cards is also known as ________.
Traditional money
Digital money
Taylor wanted to send $50 to Tia immediately. He asks you for help, which method would you recommend?
Traditional money transfer
Digital money transfer
Trading services or goods with another person when there is no money involved is known as ________.
Barter System
Fiat Money
The barter system was relied upon by early civilizations.
True
False
What came after the barter system?
Coins
Digital Money
Paper money was invented in China in the 11th century CE.
True
False
Paper Money was certainly easier to carry in large amounts than coins.
True
False
Fiat money gives central banks greater control over the economy because:
They keep money with themselves
They are in charge of how much money is printed
Digital money refers to any means of payment that exists in a purely electronic form.
True
False
Debit/Credit cards is a part of:
Digital money
Fiat money
