History of Money

Q. Who invented credit cards?

1. John Biggins
2. Marco Polo
3. King Alyattes of Lydia
4. European Banks

Q. The drawbacks of the barter system were the advantages of money. What are the features of money?

1. Heavy
2. Exchange
   medium
3. Store of value
4. Future
   payments
5. Unit of account
6. Hard to find
7. Hard to store
8. Accepted
   overall

Q. In 600 CE, who made currency the official medium of exchange for trade?

1. John Biggins
2. Marco Polo
3. King Alyattes of Lydia
4. Satoshi Nakamoto

Q. Match the currencies with the time period they were used in:

1. Mobile banking
2. Chinese coins
3. Barter system
4. Gold coins

Q. Transacting money through takes only 7–8 seconds. It was initially introduced in Britain.

1. NFC
2. mobile banking
3. electronic money
4. credit cards

Q. Paper money was implemented because __________________.

1. metal coins were hard to carry
2. the state could not keep track of metal coins
3. the metals used for making coins were limited
4. paper was less valuable than metals