10 Questions
Money is a medium of exchange consisting of bank notes and bank deposits, or anything else that can be used to purchase goods and services.
True
Money requires trust to function, and trust is usually provided by governments or banks.
True
Money can be considered a social institution that provides a solution to the problem of a lack of trust.
True
Money eliminates one of the limits of barter, i.e. the need for a double coincidence of wants.
True
Money is not considered as a unit of account in the economy.
False
Money is a medium of exchange consisting of bank notes and bank deposits?
True
Money requires trust to function, and trust is usually provided by governments or banks?
True
Money can be considered a social institution that provides a solution to the problem of a lack of trust?
True
Money facilitates exchange because it eliminates one of the limits of barter, i.e. the need of a double coincidence of wants?
True
Money is not a unit of account?
False
Test your knowledge on banks, money, and credit markets with this quiz. Explore the concept of money as a medium of exchange and its role in purchasing goods and services. Challenge yourself with questions on bank notes, bank deposits, and the acceptance of money as payment.
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