Quiz

Identification

1. It is an act of trading Goods or Services between two or more parties without

using the money

2. Who Minted the First official currency?

3. It is a promise to the bearer that he or she will be paid with standard money on
demand or at fixed determinable time.

4. It is also called as LET IT BE DONE MONEY

5. These are the two ways of storing the value of money

6. A function of money that transfers buying power into the future.

7. Give the 4 concrete functions of money

8. It is a banking system in which the banks only hold fraction of the money
from their clients deposit as reserves.

9. They are modern successors to the Goldsmith and it is where people store
their excess gold and silver for safe keeping

10. It was a simple extension of barter.

11. It is in this characteristic that the convenience of the holder is highlighted.

12. It is the capability of money to physically stay long enough in circulation.

13. It's defined as a piece of metal or combination that bearing a stamp indicative
of it's weight and finenes.

14. The process of reform consisted the gradual withdrawal of the right of coinage
from all private person's development of a strictest integrity manufacture of coins
in part of public authorities.

15. It is necessary to consider the way in which counting then performed very
rapidly. Denominations, sizes and weights are conveniently arranged.
16. A kind of money that can be in any form such as farm animals, grains, high-
value crops, salt, etc

17. The money that is rendered for a product or service through portable electronic
device such as smartphones or tablet devices.
True or False
1. Grain, high-value crops, farm animals, and salt are examples of FIAT MONEY

2. Commodity money is a kind of money that is in the form of note

3. money is generally accepted as payment of goods and services.

4. .Money can be better defined in terms of its physical content and form.

5. In the religious sidetrip of money, Jews are known as the influencial bankers
who have the power to bankroll in entrepreneurial or government venture .
6. Bronze and Copper have been the most. favorite choices for currency.

7. On a macro standpoint, recognizability plays a big role in international trading.

8. To make the money route easily in circulation it should be capable of easy

recognition.

9. The right of coinage has been considered from very early times of the sovereign
this is prevent to value abuse?

10. Can be transferred from one person to another or from one place to another
without of time and danger this is genuine stamp of Authority?
11. The first coins were made from electrum a mixture of Silver & Gold

12. The first paper money was issued by the European Government.