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Gr10 -The development of barter

Quiz by Ms Cesar

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15 questions
Show answers
  • Q1
    What was one of the primary limitations of the barter system?
    The double coincidence of wants
    It allowed for easy trade between countries
    It involved the use of currency
    It was universally accepted
    30s
  • Q2
    Which of the following commodities is often cited as an early form of currency that emerged from barter?
    Sand
    Water
    Gold

    Cars

    30s
  • Q3
    Why did societies shift from barter to a monetary system?
    To eliminate currency
    To encourage more direct exchanges
    To maintain bartering as the only form of trade
    To simplify trade and increase efficiency
    30s
  • Q4
    In which scenario is barter most likely to be effective?
    In situations when the economy collapses
    In a global online marketplace
    In a large urban city with diverse populations
    During times of economic stability
    30s
  • Q5
    What is one advantage of a barter system?
    It is always efficient
    It allows for direct exchanges of goods and services
    It guarantees equal value between trades
    It eliminates the need for a marketplace
    30s
  • Q6
    What is a common problem faced in a barter economy?
    It requires complicated contracts
    It relies on a central government
    Everyone accepts the same goods
    Valuation of goods can vary widely
    30s
  • Q7
    What key factor led to the decline of the barter system?
    The introduction of money as a medium of exchange
    The development of trade agreements
    The increase in agricultural production
    The rise of barter clubs
    30s
  • Q8
    What is a disadvantage of using barter in trade?
    It eliminates the need for negotiation
    It is always fast and efficient
    It can be difficult to find a matching need between traders
    It guarantees the value of goods
    30s
  • Q9
    Which of the following is NOT a characteristic of money?
    Durability
    Portability
    Changes in value frequently
    Divisibility
    30s
  • Q10
    Which characteristic of money allows it to retain value over time?
    Scarcity
    Store of value
    Medium of exchange
    Divisibility
    30s
  • Q11
    Which characteristic of money refers to how easily it can be carried and used in transactions?
    Durability
    Portability
    Scarcity
    Stability
    30s
  • Q12
    What characteristic of money addresses its ability to be widely accepted for purchases?
    Portability
    Durability
    Divisibility
    Acceptability
    30s
  • Q13
    Which of the following needs is focused on security and safety?

    A vehicle

    Fame
    Shelter
    Wealth
    30s
  • Q14
    Which of the following is an example of token money?
    A gold coin

    An old $1 note

    A silver bar
    A barter item like cattle
    30s
  • Q15

    Providing just enough to survive but not improve one's way of life is known as direct production

    false
    true
    True or False
    30s

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