01.07 The Green and What It Means Quiz

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How do we know our current money has value?

-People accept it in exchange for goods or services. Question Information: Money is valuable because we know that it is "accepted." Money can be used to purchase goods and services even though it is no longer backed by gold. Security measures prevent counterfeiting but do not add value.

Anything called money will be

-Scarce. Question Information: The supply of money is limited and this scarcity helps it to hold its value. Currency is no longer backed by gold and is difficult to create to reduce counterfeiting. In addition, money is no longer large and heavy

Which statement shows that money is a "store of value?"

-I just used the ten dollars given to me last year. Question Information: Money as a store of value means that it maintains its value over time. Saving money and then spending it a later time demonstrates this function of money.

Money and currency are related because

-Currency is a form of money Question Information: Money can be used in exchange for goods and services and includes debit and credit cards, government bonds, and currency. Currency, or bills and coins, is a specific form of money.

Which statement shows that money is a "measure of value?"

-My mp3 player is worth two hundred dollars. Question Information: Money as a measure of value means it can be used to explain the worth of an item. "My mp3 player is worth two hundred dollars" describes the worth of the player in terms of money.

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