5 Written questions
5 Matching questions
- Fiat Money
- Law of supply and demand
- a A coin made of different metals.
- b Almost nothing is free, someone must pay for it
- c Legal tender money
- d When the supply of something goes up, the price per unit of that thing goes down
- e Shaving the edges of a coin in order to get some of the precious metal from the coin
5 Multiple choice questions
- Reducing the value of a coin by reducing the amount of precious metal in it.
- A wafer or disk of precious metal
- To make something that is fake or phonylly overvalued money.
- An unchanging fact of life which deals with production and distribution of wealth.
- The mint-mark of a coin which tells who made the coin
5 True/False questions
Double Digit Inflation → Prices increases rising at 10 to 99 percent per year due to inflation
Base Metal → A non-precious metal like copper or nickel
Legal Tender Law → A law which provides for the punishment of anyone who refuses to accept the legal tender money
Demand for Money → The desire to hold money rather than trade it.
Inflation → An increase in the amount of money which causes the money to lose value, so the prices rise