Practice Types of Money - 1.3 | Chapter 3: Money and Banking | ICSE Class 12 Economics
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is commodity money?

💡 Hint: Think of items that have worth beside being used as currency.

Question 2

Easy

What is fiat money?

💡 Hint: Consider the money we use every day!

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What type of money has intrinsic value?

  • Fiat Money
  • Commodity Money
  • Bank Money

💡 Hint: Think of valuable materials used throughout history.

Question 2

Fiat money is considered valuable because of which reason?

  • True
  • False

💡 Hint: This type of money is common in today's transactions.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Evaluate the impact of fiat money on global trade.

💡 Hint: Consider how economies depend on trade and perception of currency stability.

Question 2

How might the shift towards digital currencies affect the traditional concept of bank money?

💡 Hint: Reflect on how technology alters traditional systems.

Challenge and get performance evaluation