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9 week test
First 9 weeks
| Question | Answer |
|---|---|
| commodity currency. | currency that can be turned in for gold or silver coins. |
| Fiat currency. | Currency that cannot be turned in for gold or silver. |
| What were the first forms of currency? | The first forms of currency were sea shells. |
| Who made the first coins? | The Lydians made the first coins. |
| Who made bit coins? | The Spanish made bit coins. |
| What was bartering? | Bartering was an exchange of goods. |
| Why is bartering not practical in today's society? | It would take a long time to get what you wan or need. |
| What did the Egyptians use for currency during 2500 B.C.? | They made metal rings that they used for currency. |
| Why were coins more desirable in the Western Countries? | They had precious metals such as gold and silver. |
| What was one of the most widely used coins during the 18th century? | The Spanish 8-reale coin. |
| How was change made with the Spanish 8-reale? | It was often split into bits. |
| Who were the first people to use a form of a banknote? | China's T'ang dynatsy. |
| What materials did the Chinese use to make their banknotes? | They used mulberry bark and leather. |
| What is a value? | A value is something you care about or something worth while. |
| What is a need? | A need is something that you need for your survival. |
| What is a want? | A want is something that you would like to have |
| what is a goal? | A goal is something that you want to achieve in your life. |
Created by:
Adrian Keith
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