Types of Money - SS1 Economics Past Questions and Answers - page 1
What is a credit card?
A plastic card that allows you to spend money directly from your bank account.
Physical currency that includes coins and banknotes issued by the government.
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
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Digital currency that can be used to purchase goods and services.
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Which of the following is an example of virtual currency?
Cash
Credit Card
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Bitcoin
Debit Card
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What is a prepaid card?
A card that has a fixed amount of money loaded onto it and can be used to make purchases until the balance runs out.
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
Digital currency can be used to purchase goods and services.
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Payment systems that use mobile devices to make transactions.
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Which of the following is an example of mobile payments?
 Bitcoin
Google Wallet
Â
Cash
Credit Card
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What is a debit card?
Plastic card that allows you to spend money directly from your bank account.
Physical currency that includes coins and banknotes issued by the government.
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
Â
A card that has a fixed amount of money loaded onto it and can be used to make purchases until the balance runs out.
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Define virtual currency.
Â
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What is a mobile payment system?
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