Economics Quiz - Money and Credit
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1. What is money primarily used for?
Bartering goods · Storing value · Measuring wealth · Medium of exchange
2. Which of the following is NOT a function of money?
Medium of exchange · Unit of account · Store of value · Production of goods
3. What is a bank?
A place to store food · A financial institution · A government office · A type of business
4. What do we call the money that is created by banks?
Physical currency · Credit money · Commodity money · Fiat money
5. What is the primary role of credit in the economy?
To increase cash flow · To facilitate transactions · To provide loans · To control inflation
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