Chp 10 List

Question 1

Name the three types of colonial money

Answer 1

1) Commodity money(Money that has an alternative use)
2) Flat money(Money by government degree)
3) Specie (Money in the form of gold or silver)

Question 2

Name of the four characteristics of money

Answer 2

1) Money must be portable
2) Money must be durable
3) Money must be easily divisible into smaller units
4) Money must be available but scares(Limited supply)

Question 3

Name the three functions of money

Answer 3

1) Medium of exchange(Something excepted by all parties)
2) Measure of value(Worth something)
3) Store of value (can be saved)