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Cashless Society

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Questions and Answers

Which of the following is NOT an advantage of a cashless society?

Easier tracking of money

Reduced risk of theft (correct)

Lower crime rates

Convenience

What is a cashless society?

A society where all transactions are conducted electronically (correct)

A society that only uses debit cards

A society without any financial transactions

A society that uses both cash and electronic transactions

Why is carrying cash considered a risk in terms of crime?

Cash can easily get lost

Cash can become invalid

Cash can be tracked by the government

Cash can be stolen (correct)

What is one disadvantage of a cashless society?

<p>Inconvenience</p> Signup and view all the answers

Why is it difficult to track money once it has been stolen?

<p>There is no way to prove ownership of stolen money</p> Signup and view all the answers

Study Notes

Cashless Society

A cashless society is an economy where financial transactions are done electronically, without the use of physical cash.

Risks of Carrying Cash

Carrying cash is considered a risk in terms of crime because it makes individuals a potential target for theft and robbery.

Disadvantages of a Cashless Society

One major disadvantage of a cashless society is that it can exclude people who do not have access to digital payment systems or those who are not tech-savvy.

Tracking Stolen Money

It is difficult to track money once it has been stolen because physical cash leaves no digital trail, making it hard to trace and recover.

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Description

Discover the pros and cons of a cashless society in this thought-provoking quiz. Explore the potential benefits and drawbacks of a world without physical currency. Test your knowledge and see where you stand on the idea of a cashless future.