Answer The following

Questions

6 questions · self-marked practice — reveal the answer and mark yourself.

Question 11 Mark

When was paper money first used?

Answer

Paper money was first used in China aboutn one thousand years ago.

Question 21 Mark

Name any two things used as money in the past.

Answer

Shells and cowries.

Question 31 Mark

What was known as barter’?

Answer

Long, long ago, people did not use coins and notes but exchanged one thing for another and this was known as ‘barter’.

Question 41 Mark

What are the names of money used in The United States and in England?

Answer

In The United States they use ‘dollars’ ($) while in England they use ‘pounds’ (£).

Question 51 Mark

In which forms do we see money today?

Answer

We see money today in the form of coins and notes.

Question 61 Mark

Why do we need money?

Answer

We need money to buy things and to pay people who work for us.

English Answer The following