🍒
William has a basket of apples and wants some bread. He finds Avery, who has bread but wants apples. They agree to exchange apples for bread directly, without using money. Using money. This type of exchange is called?
Barter System
Oliver receives a document that is a promissory note and legal tender, issued and backed by the government, payable on demand to the holder. What is this document?
Banknote
Aria is evaluating a rare antique vase. She wants to determine its actual , inherent worth based on its fundamental properties and , usefulness ,regardless of what it might sell for in the market .What is Aria trying to determine ?
Intrinsic Value
Oliver is working with a team to keep track of transactions in a way that is unchangeable , decentralized and distrubted across a network of computers .Fill in the bank : The technology Oliver is using called _________.
Blockchain
Scarlett wants to buy a new laptop online but doesnt have enough cash at the moment. She decides to use an electronic method of payment that allows her to purchase the laptop on credit and pay for it later. What is the term for this method ?
Credit card
Harper visits a bank to withdraw some money . The teller hands her paper bills and coins, which she can use for shopping or saving. These paper bills, coins, and their digital equivalent in her bank account are collectively known as what official form of money is in active circulation within a country?
Currency
Elijah finds an old coin at the flea market . The coin is valuable not just because it can be used as money, but also because the gold itself has worth. Fill in the bank: The gold coin Elijah found is an example of ______ , a form of money that has instrinsic value due its physical properties.
Commodity Money
Micheal goes to a store to buy groceries and pays with currency that the government has offically sanctioned for the payment of debts ,taxes , and other financial obligations.Fill in the blank : The currency Micheal uses is an example of _______.
Legal Tender
Aiden wrote a check tp pay for groceries ,but when the store tried to cash it , the bank rejected the check because there were not enough funds in Aidens account. Fill in the bank : The check Aiden wrote is called a __________.
Bounced Check
Ethan is working for a company that needs to protect its senstive digital information . He is reseasrching methods to scramble or hide data , and to validate messages and digital signatures .in order to secure the company's digital information. What is the term for the techniques Ethan is stsudying?
Cryptography
Priya wants to buy groceries at a local store. She uses an instrument that represents a standard and agreed-upon value, used to purchase goods and services and to pay debts . What is this instrument called?
Medium of Exchange
Oliver is caught producing fake currency and trying to use it as real money. This act is known as _______, which is the illegal imitation or reproduction of currency, document, goods, or other items with the intent to deceive of defraud by passing them off as genuie.
Counterfeit
Abigail wants to buy some fruits from a local market. She gives shopkeeper something that is widely accepted in exchange for the fruits. Fill in the blank: _________ is a medium of exchange that facilitates the buying and selling of goods and services in an economy.
Money
Priya goes to a grocery store and pays for her groceries using banknote and coins. What is the team for the physical forms of money she used to pay for her items?
Cash
Lily is shoppig at a grocery store and uses a card to pay for her items . The funds are deducted directly from her bank account. What type of electronic paymemt methods is Lily using?
Debit Card
Noah wants to buy some fruit from the market. He gives the shopkeeper something that is a medium of exchange and helps him buy the fruits. _______ is a medium of exchange that facilitates the buying and selling of goods and services in an economy.
Money
Charlotte is traveling to a new country and wants to make sure she has the right type of money to pay for goods and services. She learns that _______. is the official form of money in active circulation within a country, including both physical forms like paper bills and coins, as well as the digital or accounting representation of it within the banking system.
Currency
Priya is studying different types of monetary systems in her economics class. She learns about a system where a country's basics unit of currency equals a certain quanity of gold.Fill in the blank: This system is called______.
The Gold Standard
Kai needs to pay Elijah for some services.He writes a form of payment that is dated and signed by him , directing his bank to pay a specific amount of money to Elijah .What is this form of payment called?
Check
Ava wants to make online purchases quickly and securely using her smartphone. She uses a software based system and securely stores her payment information and passwords for various payment methods and websites ,allowing her to complete transactions electronically.What is the term for this type of system ?
Digital Wallet
Kai is looking to invest in something that will keep its value over time without depreciating significantly. Fill in the bank: Kai should look for a_________.
Store of Value
Priya is learning about different types of money in her economics class. She discovers that some money is issued by the government and is not backed by physical commodities like gold or silver , but rather by trust in the issuer. Fill in the blank: The type of money Priya is learning about is called
Fiat Currency
Charlottes company needs to pay salaries to all employees efficiently and cost-effectively by processing electronic financial transactions in batches .Which network should the company use for these direct deposits and payments?
ACH (Automated Clearing House)
Micheal wants to open a deposit account that allows for easy and frequent cash deposits and withdrawls . What type of account should he choose?
Checking Account
Nora wants to pay her rent without using cash or a check .She decides to move money from her bank account to her landlord's account using her bank's online service .What is the term for this electronic transfer of money ?
EFT