Which one that is not the decription of fiat money?

A physical good that has intrinsic value/a use outside of its use as money

ensure a fair price is paid to anyone involved in production

Which one that is not the description of commofity money?

declared by a government to be the legal tender of a country

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Financial Literacy

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Questions 17

Answers

1
Is it true if the government can provide public services from tax?
True
False
2
which one is uncorrect about ethical spending
All answers are correct
shopping habits can have an impact on the environment
spending choices that avoid a negative impact to the environment
secure people involved in the production of items
3
Is it true that the fiat money cannot be backed up by physical commodities?
True
False
4
You can store your money in the form of gold
True
False
5
Using old jam's jar as a pencil case is an example of ethical spending
False
True
6
Characteristic of money are..
Easy to carry and cheap
Big nominal
Durability and acceptability
Acceptability and Heavy
7
Is it true that fiat money has no intrinsic worth?
True
False
8
Which one that is not the decription of fiat money?
A physical good that has intrinsic value/a use outside of its use as money
Usually reserved for legal-tender paper money or coins that have face val
Examples of currencies include the poundsterling, euro and the US dollar.
all kinds of money that are made legal tender by government decree or fiat
9
Reuse or donate old clothes are not the ethical spending
True
False
10
The money that you use to pay your milk to the cashier shoul be acceptable
True
False
11
Fair trade is...
Personal spending decision
Considering rational spending
taking reusable shopping bags on a trip to the shops
ensure a fair price is paid to anyone involved in production
12
Common products of fair trade are..
Cow and Tempe
Water and Boba
Fish and Chicken
Chocolate and rice
13
Which one that is not the description of commofity money?
A money whose value comes from a commodity of which it's made
Examples: alcohol, cocoa beans, copper, gold, silver, salt, sea shells, tea
declared by a government to be the legal tender of a country
consists of object having value or use in themselves as well as their value
14
Medium of exchange is not the function of money
False
True
15
Example of the tax is
Income
Train
Fishing
Recreation
16
What is tax?
a portion taken out of weekly paychecks and sent to the government
mandatory contributions on individuals or corporations by a government
to make people pay a percentage of money to the government
All of the answers are right
17
Product list ingredients can be the sign of ethical spending
True
False

Financial Literacy Flashcards | StudBud