Evolution of Money Quiz

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By UnrivaledUnderstanding

Quiz

Flashcards

15 Questions

What accelerated the adoption of digital payments during the COVID-19 pandemic?

Why do many consumers find digital payments more convenient?

What is a factor that may slow down the transition to a cashless society?

Why is it unlikely that cash will disappear entirely in the near future?

What do some governments promote as a way to combat tax evasion and the informal economy?

What is a concern that many individuals have about digital payments?

What has made electronic payments more convenient and efficient?

What can improve financial inclusion according to the text?

Why might some people prefer using cash?

Why may a completely cashless society not be feasible or desirable for everyone?

What can businesses and governments benefit from with digital payments?

What will the pace of transition to a 'less cash' society depend on?

Privacy concerns are not a factor slowing down the transition to a cashless society.

Cash is not necessary in emergencies, natural disasters, or situations where digital infrastructure may be compromised.

It is likely that a completely cashless society will emerge in the near future.

Description

Test your knowledge on the evolution of money from commodity money to fiat money, and the transition from physical commodity backing to government decree acceptance. Explore the historical use of gold and silver as money and the reasons behind the transition.

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