1) A gold bar is not money. Which one of the three options below is the best reason for this? a) A gold bar is too shiny b) A gold bar is easy to steal c) A gold bar is too heavy to carry around 2) Why are coins and banknotes available in different denominations? a) So that we can buy items for different amounts and receive change  b) To make them easier to carry c) So that people and shops will recognise them 3) Which of the following is money? a) A debit card b) A book token c) Savings in an account 4) Bartering is never used in the modern world. a) True b) False 5) Which of the following situations is a double coincidence of wants? a) Shania wants to trade her pen for a mechanical pencil. Karine wants to trade her mechanical pencil for a pen. b) Martin wants to trade his pen for an A5 notebook. Steven wants to trade his A5  c) Yoko wants to trade her packet of crisps for a chocolate bar. Maya wants to trade her apple for a packet of crisps.  6) Banknotes are made from strong materials such as polymer. Which feature of money does this relate to? a) Easy to carry b) Hardwearing c) Recognised by everyone 7) Why do coins sometimes include inscriptions of famous phrases on the edges? a) So that they are always worth the same amount b) So that they are accepted by people and shops c) So that they are hard to copy 8) If we check how much money is in our bank account using a banking app, what are we looking at? a) Cash b) Electronic balance c) ATM 9) Hari buys a magazine for £4.25 using a £5 note. Which of the following would be correct change to give him? a) 5p, 20p, 50p b) 10p, 20p, 50p c) 5p, 10p, 50p 10) What is a cash point also known as? a) Branch b) APP c) ATM

Unit 1 Topic 1 - Quiz

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