Evolution of Money Quiz

Medium of exchange, trade, credit cards

Store of value, barter system, virtual currency

Barter system, paper money, electronic money

Store of value, medium of exchange, unit of account (correct)

Low valued metal coin

Trade with initial coin made by precious metal

Paper money

Barter system (correct)

Low valued metal coin, initial coin made by precious metal, barter system, virtual currency

Paper money, electronic and plastic money, barter system, virtual currency

Trade, barter system, credit cards, virtual currency

Barter system, initial coin made by precious metal, low valued metal coin, paper money, electronic and plastic money, virtual currency (correct)

<p>Development in technology</p> Signup and view all the answers

<p>The barter system involves the direct exchange of goods and services without using money. It was prevalent before the invention of money and played a role in the evolution of money as a medium of exchange.</p> Signup and view all the answers

<p>Some examples of the various forms of money include initial coin made by precious metal, low valued metal coin, paper money, electronics, plastic money like credit cards or debit cards, and virtual currency.</p> Signup and view all the answers

<p>Technology has influenced the evolution of money by enabling the transition from barter system to various forms of money, such as electronic and virtual currency, as well as the development of credit and debit cards.</p> Signup and view all the answers

<p>The three main functions of money in a society are as a store of value, a medium of exchange, and a unit of account.</p> Signup and view all the answers