Lesson 16.2 Money

Question 1

It is anything used as a medium of exchange to buy certain products and services

Answer 1

Money

Question 2

He discovered the Penniform gold barter ring

Answer 2

Dr Gilbert Perez

Question 3

It is believed to be the earliest form of coinage used by the ancient Filipinos

Answer 3

Piloncitos

Question 4

It is the bronze coin with little value

Answer 4

Hills Kalamay

Question 5

It was the first coin produced in our country during the Spanish regime

Answer 5

Spanish Barilla

Question 6

It was considered as the first bank that was established in the Philippines.

Answer 6

El Banco Español–Filipino de Isabella ll

Question 7

The Philippines first paper money

Answer 7

Pesos Fuertes

Question 8

It approved the use of gold exchange standard in our country

Answer 8

Philippine Coinage Act of 1902

Question 9

It us money with no value during the Japanese period

Answer 9

Mickley Mouse

Question 10

The person in the 1 Peso bill

Answer 10

Jose Rizal

Question 11

The person in the 5 Peso bill

Answer 11

Andre’s Bonifacio

Question 12

The person in the 10 Peso bill

Answer 12

Apolinario Mabini

Question 13

The person in the 20 Peso bill

Answer 13

Manuel L. Quezon

Question 14

The person in the 50 Peso bill

Answer 14

Sergio Osmeñia

Question 15

The person in the 100 Peso bill

Answer 15

Manuel Roxas

Question 16

The person in the 200 Peso bill

Answer 16

Diosdado P. Macapagal

Question 17

The people in the 500 Peso bill

Answer 17

Corazon Aquino, Benigno Aquino Jr.

Question 18

The people in the 1000 Peso bill

Answer 18

Jose Abad Santos, Vicente Lim, Joseph Llanes Escoda

Question 19

People in the 1000 Peso bill

Answer 19

Josè Abad Santos, Vicente Lim, Josefa Llanes Escoda

Question 20

It is a particular kind of standard money used in the country. It is the type of money issued in circulation by the government

Answer 20

Monetary Standard

Question 21

It is the standard money that is redeemed and has equivalent in gold

Answer 21

Gold Standard

Question 22

It was the Monetary standard during the American Occupation

Answer 22

Gold–Exchange Standard

Question 23

It is used in redeeming the money

Answer 23

Silver Standard

Question 24

It is a country that uses one metal as currency

Answer 24

Monometallic Standard

Question 25

It is a country that uses two or more metals as currency

Answer 25

Bimetallic

Question 26

He exposed the bimetallic standard

Answer 26

Sir Thomas Gresham

Question 27

It is implemented in many countries because its much easier to control the volume of money in circulation

Answer 27

Paper Standard

Question 28

It is removing the currency in circulation and stripping its legal tender status

Answer 28

Demonetization

Question 29

It guarantees the use of the money in all kinds of transactions

Answer 29

Legal Tender

Question 30

It refers to the called of metal used in producing the money or the amount of metal contained in the money.

Answer 30

Intrinsic Value

Question 31

It used products such as rice, clothing, necklace, and other things as a form of currency

Answer 31

Commodity Money

Question 32

This was used during the Japanese Period and had no Intrinsic value

Answer 32

Fiat Money

Question 33

It refers to any credit Instrument accepted as payments for products and services consumed by an individual

Answer 33

Credit Money

Question 34

It is a written promise 8n paying debt on a specific date

Answer 34

Promissory note

Question 35

A check, if issued without certain fund to pay.

Answer 35

Bouncing Check

Question 36

ATM cards and credit cards belong to this form of money

Answer 36

Plastic Money

Question 37

Good money is not easily torn or broken into pieces

Answer 37

Durability

Question 38

With the use of special materials in minting and printing money, it can be easily be recognised

Answer 38

Easy to Recognize

Question 39

Is an act of imitating the original form of money, and is illegal

Answer 39

Counterfeiting

Question 40

Money as an instrument of exchange is used by everybody in all economic transactions within the country the uses money

Answer 40

Acceptability

Question 41

The value of money is not easily affected by the fluctuation of prices in a short period of time

Answer 41

Stability

Question 42

Money is divided into different denominations with its real value not affected.

Answer 42

Divisibility

Question 43

Money can be brought or carried anywhere

Answer 43

Portability

Question 44

The increase and decrease of money depends on the needs of the economy

Answer 44

Flexibility

Question 45

Uniformity

Answer 45

Every denominations has its own particular color, shape, weight, and design.

Question 46

People aquire products with the use of money

Answer 46

Medium of Exchange

Question 47

It is when the currency doesn't get affected for a long period of time unlike commodity money

Answer 47

Store Value

Question 48

All commodities that use products in any transaction are values with a specific amount of money.

Answer 48

Standard Value

Question 49

Many economic transaction today are done using a credit card rather than cash

Answer 49

Standard of Deferred Payment

Question 50

Goods can be acquired without the use of money

Answer 50

Barter