The Economy and Entrepreneurship - Unit 1: The history of money Survey

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* 3. Traditional societies are small communities that usually share many features. List only 2 features that you know of.

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* 4. What is barter?

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* 5. What are the advantages of bartering? (List two advantages)

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* 6. What are the disadvantages of bartering? (List two advantages)

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* 7. What was the major purpose of banks in 2000?

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* 8. Define negotiations

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* 9. Define promissory

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* 10. Define currency

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* 11. By international agreement, promissory notes must contain:

the words "promissory notes" in the document;

a promise to pay a definite sum of money

the time of payment

the place where the payment is to be made

the name of the person to be paid

the date and the place where the promissory note is to issued

the signature of the person who issues the promissory note

the bank where the money will be paid into

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* 12. Around 1000 BC, the first coins were made in

US.

China

Africa

Russia

Australia

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* 13. When Jan van Riebeeck arrived at the Cape in 1652 the Dutch East India Company used the ________ dollar, the basic coin in the Netherlands at the time.

Spanish.

American

Australia

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* 14. Metal coins also started to appear in Lydia (present-day known as....)

Turkey

Egypt

Colombia

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* 15. Explain when did the first paper money appear? State the country and the dynasty name.

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* 16. Define a dynasty

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* 17. __________money: the first bank-note were used in 100 BC.

Gold

Leather

Paper

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* 18. The first credit card was introduced in the US and Europe in the

1910s AD

1920s AD

1960s AD

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* 19. Credit is

the ability to get goods before you have paid for them

the ability to get goods after you have paid for them

none of the above

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* 20. Define the term "republic"

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* 21. Define the term "fiat money"

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* 22. Define the term "phishing"

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* 23. What happened during the Great Depression in the 1930s? Focus on gold as your answer.

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* 24. What is the purpose of ATMs? Explain how the whole things works.

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* 25. List two advantages of electronic banking.

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* 26. List two disadvantages of electronic banking.

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* 27. Explain the role of money by explaining how it works with regards to unit of value.

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* 28. Explain the role of money by explaining how it works with regards to healthy economy.

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* 29. Explain the role of money by explaining how it works with regards to savings.

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* 30. Explain the characteristics of money.

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* 31. Explain how people traded goods and services before coins and paper notes existed.

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* 32. Name three different methods of payment used to buy things we need now.

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* 33. Compare these methods of trade and say which is best and why you think so: the use of money as it is now, or older methods, or a combination of all these methods.

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* 34. Explain how money enables people and businesses to satisfy needs and wants.

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* 35. Explain why money is easier to use to satisfy our needs and wants than the bartering system.

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* 36. When did South Africa become a Republic?

1823

1961

1652

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* 37. Paper money was introduced in South Africa for the first time in _________ as a result of shortage of coins that were brought in from the Netherlands.

1823

1782

1652

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* 38. In _________ South Africa changed its currency from British sterling to rands and cents, which is still used today.

1823

1961

1652

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* 39. In _________ a banknote factory was opened in South Africa and ever since then it has printed our money.

1823

1962

1652

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* 40. The first bank established in the Cape was called the __________________Bank and it was given the task of issuing paper money.

Lombard

Van Riebeeck

Rhodes

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* 41. The first ATM was installed in __________________Bank in London in the 1960s. They became more common in the 1980s.

Barclays

Absa

NBS

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* 42. ATM stands for

Automatic Teller Machines

Automatic Transfer Machines

None of the above

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* 43. EFT stands for

Electronic Funds Transfer

Electronic File Transfer

None of the above

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* 44. EFTPOS stands for

Electronic Funds Transfer Point of Sale

Electronic File Transfer Point of Sale

None of the above

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* 45. Internet banking and shopping

1990s AD

1890s AD

None of the above

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* 46. The Bank of England was established in _______ and was soon printing bank notes.

1950

1964

None of the above

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* 47. Are you a member of the Wowos Club

Yes

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* 48. If not a member, do you want to join the Wowos club?

Yes

The Economy and Entrepreneurship - Unit 1: The history of money

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* 1. What is your name?

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* 2. BC stands for

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* 3. Traditional societies are small communities that usually share many features. List only 2 features that you know of.

Question Title

* 4. What is barter?

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* 5. What are the advantages of bartering? (List two advantages)

Question Title

* 6. What are the disadvantages of bartering? (List two advantages)

Question Title

* 7. What was the major purpose of banks in 2000?

Question Title

* 8. Define negotiations

Question Title

* 9. Define promissory

Question Title

* 10. Define currency

Question Title

* 11. By international agreement, promissory notes must contain:

Question Title

* 12. Around 1000 BC, the first coins were made in

Question Title

* 13. When Jan van Riebeeck arrived at the Cape in 1652 the Dutch East India Company used the ________ dollar, the basic coin in the Netherlands at the time.

Question Title

* 14. Metal coins also started to appear in Lydia (present-day known as....)

Question Title

* 15. Explain when did the first paper money appear? State the country and the dynasty name.

Question Title

* 16. Define a dynasty

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* 17. __________money: the first bank-note were used in 100 BC.

Question Title

* 18. The first credit card was introduced in the US and Europe in the

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* 19. Credit is

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* 20. Define the term "republic"

Question Title

* 21. Define the term "fiat money"

Question Title

* 22. Define the term "phishing"

Question Title

* 23. What happened during the Great Depression in the 1930s? Focus on gold as your answer.

Question Title

* 24. What is the purpose of ATMs? Explain how the whole things works.

Question Title

* 25. List two advantages of electronic banking.

Question Title

* 26. List two disadvantages of electronic banking.

Question Title

* 27. Explain the role of money by explaining how it works with regards to unit of value.

Question Title

* 28. Explain the role of money by explaining how it works with regards to healthy economy.

Question Title

* 29. Explain the role of money by explaining how it works with regards to savings.

Question Title

* 30. Explain the characteristics of money.

Question Title

* 31. Explain how people traded goods and services before coins and paper notes existed.

Question Title

* 32. Name three different methods of payment used to buy things we need now.

Question Title

* 33. Compare these methods of trade and say which is best and why you think so: the use of money as it is now, or older methods, or a combination of all these methods.

Question Title

* 34. Explain how money enables people and businesses to satisfy needs and wants.

Question Title

* 35. Explain why money is easier to use to satisfy our needs and wants than the bartering system.

Question Title

* 36. When did South Africa become a Republic?

Question Title

* 37. Paper money was introduced in South Africa for the first time in _________ as a result of shortage of coins that were brought in from the Netherlands.

Question Title

* 38. In _________ South Africa changed its currency from British sterling to rands and cents, which is still used today.

Question Title

* 39. In _________ a banknote factory was opened in South Africa and ever since then it has printed our money.

Question Title