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QuizMoz offers one of the Internet's largest collection of quizzes for you to tease your brain and pit your wits against the experienced QuizMoz quiz masters. Go ahead and find out what you know about yourself and the world around you. Best of luck!!  Money Matters Facts  Average Score for this quiz: 100%  No of times this quiz has been taken: 1  No of people passing this quiz: 1  No of people failing this quiz: 0  Maximum score for this quiz: 100% Coverage : A short test of your knowledge of money. Quiz Created by: Jah D Creation Date: 6 November 2009 1.  Which of the following best describes money? a. A commodity used in trade. b. Notes issued by governments c. Anything generally accepted for the payment of goods and services d. None of the above Please provide appropriate updations Ques Which of the following best describes money? a. b. c. d. Please describe the changes made by you 2.  Fiat money refers to: a. Money without value as a physical commodity b. Money originally used in urban areas of Italy c. Money whose value is derived from the commodity from which it is made. d. The earliest form of money Please provide appropriate updations Ques Fiat money refers to: a. b. c. d. Please describe the changes made by you 3.  The following are examples of commodity money: a. Shells, Gold Coins, Paper Notes b. Gold Coins, Precious Stones, Salt c. Stones, Gold Coins, Paper Notes d. Paper Notes, Silver, Salt Please provide appropriate updations Ques The following are examples of commodity money: a. b. c. d. Please describe the changes made by you 4.  Which of the following is NOT a characteristic of money? a. Acceptability b. Durability c. Value as a commodity d. Portability Please provide appropriate updations Ques Which of the following is NOT a characteristic of money? a. b. c. d. Please describe the changes made by you 5.  Homogeneity means that: a. All money should have similar characteristics b. All money issued by a goverment must have at least one feature in common c. Money of equal value should have similar characteristics d. None of the above Please provide appropriate updations Ques Homogeneity means that: a. b. c. d. Please describe the changes made by you 6.  Scarcity means that: a. Only selected indivuals should have access to money b. When individuals save money becomes scarce c. Governments place a limit on how much money foreigners are allowed to take in the country d. There should be limited supply to ensure that money retains its value Please provide appropriate updations Ques Scarcity means that: a. b. c. d. Please describe the changes made by you 7.  Different denominations of money represent which characteristic: a. Divisibility b. Scarcity c. Variabilty d. Segregability Please provide appropriate updations Ques Different denominations of money represent which characteristic: a. b. c. d. Please describe the changes made by you 8.  The four main functions of money are: a. A measure of value a store of value a commodity of value a medium of exchange b. A medium of exchange a measure of value a store of value a means of deferred payment c. A store of value a commodity of value a means of deferred payment a store of value d. A store of value a means of deferred payment a medium of exchange a commodity of value Please provide appropriate updations Ques The four main functions of money are: a. b. c. d. Please describe the changes made by you 9.  Which function of money adresses the problem of 'Double Coincidence of Wants'? a. A commodity of value b. A store of value c. A medium of exchange d. A measure of value Please provide appropriate updations Ques Which function of money adresses the problem of 'Double Coincidence of Wants'? a. b. c. d. Please describe the changes made by you 10.  Inflation affects: a. The value of money b. The durability of money c. The Homogeneity of money d. None of the above Please provide appropriate updations Ques Inflation affects: a. b. c. d. Please describe the changes made by you Think you know more about this quiz!   Please enter your Name and what you would like to tell everyone about Money Matters  Name: Think you know more about Money Matters and would like others to know too? Whether its a great fact, a joke, a personal experience or an interesting anecdote, please share it with all the human beings on planet earth. Your contribution will help keep QuizMoz a free site for all.    (Optional)  (average submission size - 5 to 10 lines) Know the Latest News about Money Matters! What others think about Money Matters By: Hannah on 11/21/2009    Enjoyed it, and learned a lot about general knowledge By: Haris on 11/20/2009    These quizzes will increase my vocab skill.Frequently i Have used this website to check my vocab strength. 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