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.
Digital currency that can be used to purchase goods and services.
Which of the following is an example of virtual currency?
Cash
Credit Card
Bitcoin
Debit Card
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.
Payment systems that use mobile devices to make transactions.
Which of the following is an example of mobile payments?
Bitcoin
Google Wallet
Cash
Credit Card
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.
A card that has a fixed amount of money loaded onto it and can be used to make purchases until the balance runs out.
Define virtual currency.
Virtual currency is digital currency that can be used to purchase goods and services.
What is a mobile payment system?
A mobile payment system is a payment system that uses mobile devices, such as smartphones, to make transactions.