Types of Money - SS1 Economics Past Questions and Answers - page 1
1
What is a credit card?
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A
A plastic card that allows you to spend money directly from your bank account.
B
Physical currency that includes coins and banknotes issued by the government.
C
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
Â
D
Digital currency that can be used to purchase goods and services.
2
Which of the following is an example of virtual currency?
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A
Cash
B
Credit Card
Â
C
Bitcoin
D
Debit Card
3
What is a prepaid card?
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A
A card that has a fixed amount of money loaded onto it and can be used to make purchases until the balance runs out.
B
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
C
Digital currency can be used to purchase goods and services.
Â
D
Payment systems that use mobile devices to make transactions.
4
Which of the following is an example of mobile payments?
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A
Bitcoin
B
Google Wallet
Â
C
Cash
D
Credit Card
5
What is a debit card?
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A
Plastic card that allows you to spend money directly from your bank account.
B
Physical currency that includes coins and banknotes issued by the government.
C
A plastic card that allows you to borrow money from the card issuer and pay it back later with interest.
Â
D
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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