SOCIAL STUDIES_YEAR 4_2nd TERM (MONEY AND FUNCTIONS)
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20 questions
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- Q1first people to introduce the use of gold and silver coinsNOMADSNABATEANSLYDIANSJORDANIANS10s
- Q2Metals were used as money for at least5 000 YEARS AGO4 000 YEARS AGO6 000 YEARS AGO3 000 YEARS AGO10s
- Q3a process of directly exchanging one good or service for anotherTRADEBARTERINGCURRENCYMONEY10s
- Q4refers to an item of value ownedCURRENCYASSETLYDIANSMONEY10s
- Q5A coined metal or paper money upon which a government has impressed its stamp to designate its value is calledTRADECURRENCYFIAT MONEYMONEY10s
- Q6is anything that is generally accepted as payment for goods and servicesMONEYTRADEBARTERINGCURRENCY10s
- Q7Gold and silver coins were used around560-600 BC650-600 BC750-700 BC550-500 BC10s
- Q8the act of buying and selling goods and servicesBARTERTRADEGOODSSERVICES10s
- Q9Nowadays, money is called currency is not backed up by gold or silver which is calledCURRENCYGOLDSILVERFIAT MONEY10s
- Q10Which of the following is NOT a functions of money?STORE VALUEBARTER AND TRADEMEASURE OF VALUEMEDIUM OF EXCHANGE10s
- Q11Money is a standard of payment.NOYES10s
- Q12Which statement is CORRECT about currency?Currency evolved as a medium of exchange.Currency is not backed up by gold or silver.The dominant form of money is currency.10s
- Q13Which of the following describes MONEY?Bartering is an act of buying and selling goods and services.There are 5 functions of money.Money is used to buy goods and services.10s
- Q14money promotes economic efficiencyMEDIUM OF EXCHANGESTORE OF VALUEMEASURE OF VALUE10s
- Q15using money reduces the cost of collecting priceMEASURE OF VALUEMEDIUM OF EXCHANGESTORE VALUE10s