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Social studies 2nd month exam

Last updated almost 5 years ago

15 questions

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Fill in blanks with the correct word 🙌 

Question 1

1.

Long ago people used ………………….. which is the process of directly exchanging one good or service for another.

Question 2

2.

The ……………….. were the first people to introduce the use of gold and silver coins around 650-600 B.C .

Question 3

3.

Goldsmiths used to charge a ......... for their services.

Question 4

4.

………………….. currency: however is a new invention that first appeared about 300 years ago.

Question 5

5.

The payment systems used in e-commerce on the internet is known as …………………… money.

Question 6

6.

Money that has value based on the material from which it is made is known as …………………. Money.

Question 7

7.

In 1407,the first state deposit bank was founded in Genoa, ............

Question 8

8.

The first bank notes were used in ........... in the 7th century.

Question 9

9.

Mention 3 uses of the ATM.

Question 10

10.

Why did people use gold notes instead of money ?

Question 11

11.

What is an asset ? Give an example

Question 12

12.

The wealthy deposited their gold with goldsmiths because they were the target of the thieves.

True

False

Question 13

13.

The act of buying and selling goods and services is called bartering. 🙈

True

False

Question 14

14.

Salt is an example of commodity money.

True

False

Question 15

15.

Match each type of money with the right picture 😄

Commodity money
Fiat money
Electronic money