E X A M 2

Question 1

D U R A B L E

Answer 1

Withstand repetitive use

Question 2

P O R T A B L E

Answer 2

easy to carry or transport

Question 3

D I V I S I B L E

Answer 3

Easily divided

Question 4

A C C E P T A B L E

Answer 4

accepted as a method of transfer

Question 5

S C A R C E

Answer 5

the amount of money in a circulation should be restricted to maintain its value

Question 6

R E C O G N I S A B L E

Answer 6

Easily identified but hard to reproduce

Question 7

M E D I U M O F E X C H A N G E

Answer 7

To facilitate transactions

Question 8

S T A N D A R D O F D E F F E R E D
P A Y M E N T

Answer 8

Allows people to purchase good and services but pay for them later

Question 9

M E A S U R E O F V A L U E

Answer 9

ability to compare the value of good and services

Question 10

S T O R E O F V A L U E

Answer 10

Money holding it value

Question 11

Do buyers of currency prefer high or low exchange rates

Answer 11

High

Question 12

Do sellers of currency prefer high or low exchanges rates

Answer 12

Low

Question 13

3 reasons australian money may lose its value

Answer 13

unfit, damaged and contaminated

Question 14

4 forms of legal tenders

Answer 14

Tap & Go
Apple pay
After pay
BPAY

Question 15

Credit

Answer 15

a credit card allows you to buy things now and pay later

Question 16

2 benefits of credit cards

Answer 16

convenient and helpful in emergencies

Question 17

2 limitations of credit cards

Answer 17

encourages people to spend money, put people in debt