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- Multiple ChoicePlease save your changes before editing any questions.
Barter requires the use of Money.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Providing enough for oneself but not to improve your way of life is referred to as
Barter
Exchange Rate
Subsistence
Double coincidence of wants
- Multiple ChoicePlease save your changes before editing any questions.
Two people who want what each other has to offer is referred to as:
Divisibility of goods
Exchange Rate
Business activity
Double coincidence of wants
- Fill in the BlankPlease save your changes before editing any questions.
Early man lived in a _______________ economy.
- Multiple ChoicePlease save your changes before editing any questions.
Identify the items which were used as money
Coins
Paper money
Dog teeth
Shells
Arrow heads
- Multiple ChoicePlease save your changes before editing any questions.
Satisfying one's needs with the aid of others
Direct production
Barter
Indirect production
Farming
- Multiple ChoicePlease save your changes before editing any questions.
Which function of money places a value on items?
Portable
Store of Value
Divisible
Measure of Value
- Multiple ChoicePlease save your changes before editing any questions.
Money can be saved and used in the future.
Portable
Durable
Store of Value
Measure of Value
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It should be simple to carry money around
Portable
Measure of Value
Durable
Medium of exchange
- Fill in the BlankPlease save your changes before editing any questions.
Money is a medium of __________________ .
- Fill in the BlankPlease save your changes before editing any questions.
The ______________ goods each person had was used to trade with others.
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is an example of a barter economy?
Goods and services are exchange for money payments
Goods are not traded because there is no double coincidence of wants
Goods and services are exchanged for other goods
- Multiple ChoicePlease save your changes before editing any questions.
The inability to determine a fixed rate of exchange started causing a problem with barter.
True
False
- Fill in the BlankPlease save your changes before editing any questions.
The most common form of money used today is referred to as ______________ money.
- Multiple ChoicePlease save your changes before editing any questions.
The inability to give change for a cow or horse gave rise to a problem in the barter system called
durability
divisibility
portability
acceptability