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What is Money?
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What is Money?

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@FabulousBowenite

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Questions and Answers

Which of the following is the correct definition of money?

  • A specific currency issued by a government
  • Physical goods that are used as a medium of exchange
  • A barter system where goods are exchanged for other goods
  • Anything that is widely accepted as a means of payment (correct)

    • What was considered as money in ancient times?

  • Physical goods like eggs and chicken meat (correct)
  • Gold and silver coins
  • Precious gems
  • Paper money

    • Which of the following is NOT true about money?

  • People can choose what they want to use as money
  • Money is a medium of exchange
  • Money is always in the form of physical currency (correct)
  • Money is widely accepted as a means of payment

    • Which of the following is a correct statement about money?

    <p>Money is anything that is widely accepted as a means of payment</p> Signup and view all the answers

    What was used as money in ancient times according to the text?

    <p>Goods such as eggs and chicken meat</p> Signup and view all the answers

    Which of the following is a common misunderstanding about money?

    <p>Money is only valuable if it is made of gold or silver</p> Signup and view all the answers

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