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3rd TERM_TYPES OF MONEY

Quiz by Teacher Jhoms

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20 questions
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  • Q1
    The world’s first plastic currency was introduced by ______________________.
    China
    Canada
    Asia
    Australia
    30s
  • Q2
    Commodity money is similar to ______________________, but it provides a simple and automatic unit of account.
    barter
    trade
    merchandise
    merchant
    30s
  • Q3
    The payment system used in e-commerce on the Internet is known as ______________________ money.
    systematic
    electronic
    automatic
    magnetic
    30s
  • Q4
    Representative money includes token coins or ______________________ that can be reliably exchanged for a fixed quantity of a commodity.
    credit money
    digital certificates
    paper money
    electronic money
    30s
  • Q5
    Credit money is not payable on ______________________; it is payable on due dates.
    necessity
    stocks
    wants
    demand
    30s
  • Q6
    Money that has value based on the material from which it is made.
    Commodity Money
    Representative Money
    Fiat Money
    Credit Money
    30s
  • Q7
    A claim against a person that can be used for the purchase of goods and services.
    Commodity Money
    Representative Money
    Electronic Money
    Credit Money
    30s
  • Q8
    What type of money is illustrated based on the given picture?
    Question Image
    Representative Money
    Credit Money
    Electronic Money
    Fiat Money
    30s
  • Q9
    It refers to any money whose value is determined by legal means.
    Fiat Money
    Credit Money
    Commodity Money
    Representative Money
    30s
  • Q10
    It is a type of money that includes digital certificates or token coins.
    Fiat Money
    Electronic Money
    Representative Money
    Credit Money
    30s
  • Q11
    Electronic money stands in direct and fixed relation to the commodity which backs it.
    FALSE
    TRUE
    30s
  • Q12
    It is a type of money that allows customers to pay for online orders using secure account.
    Electronic Money
    Commodity Money
    Fiat Money
    Representative Money
    30s
  • Q13
    Which of the following is NOT commodity money?
    gold
    shells
    silver
    credit cards
    30s
  • Q14
    What type of money is illustrated based on the given picture?
    Question Image
    Commodity Money
    Fiat Money
    Credit Money
    Representative Money
    30s
  • Q15
    Nowadays, we still use commodity money to purchase goods and services.
    FALSE
    TRUE
    30s

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