Sanchez, Daizel Anne S. PROF. R. MANALO
THE DEVELOPMENT OF MONEY
Multiple Choices 1. The rule in the primitive society a. individualism b. barter economy c. legal tender d. social interaction 2. Gave rise to the institution of social contract, wherein man took care not only of himself but of an entire family whose needs he had to meet a. money b. social interaction c. utility d. coin 3. The direct exchange of one commodity for another of goods for goods, services for services goods for services or vice versa a. barter b. barter economy c. money d. utility 4. Exchange of goods a. barter b. barter economy c. money d. utility 5. Medium of exchange and
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Coin b. Bank Money c. New Central Bank Act d. durability 14. An ingot of metal, of which the weight and fineness are certified by the integrity of the designs upon its surface a. bank money b. coin c. money d. barter 15. Represented by checks, drafts and bankers’ acceptances a. bank money b. coin c. money d. barter 16. Money does not only eliminate certain difficulties that attend to every barter transaction but, at the same time, enables consumers to manifest their preferences for certain goods which they purchase in the market a. medium of exchange b. standard of value c. paper media of exchange d. durability 17. Establishes a common denominator or yardstick by which units of goods or services may be measured in terms of their exchange value a. medium of exchange b. standard of value c. paper media of exchange d. durability 18. Enhance the portability of money and remove the need to carry large quantities of iron and copper a. medium of exchange b. standard of value c. paper media of exchange d. durability 19. The commodity should be easily carried or transported from place to place a.