How money makes trading easier: coins, paper money and banks
Grade 7 Social Studies Worksheet - Challenge Me
Circle the best answer.
What does a trader carry when paying with a bill of exchange, Luz asks?
- Heavy metal that can be lost or stolen
- Electrum bars
- Strings of coins on a cart
- A written order
What risk does the table give for carrying coins, Milo asks?
Use the picture in question 1.
- They are paid out by a banker far away
- They can be lost or stolen
- They grow lighter each day
- They are written orders
Who pays out the money on a bill of exchange, Noah asks?
Use the picture in question 1.
- A potter in exchange for pots
- The trader's own family at home
- The ruler of Lydia
- A banker in another city
In which centuries did bills of exchange take on their main features in Italy, Ren asks?
Use the picture in question 1.
- The 700s, with flying money
- The 1200s to 1400s
- The 1900s
- The 600s BCE, with Lydia's coins
Where was the Medici Bank founded, Tala asks?
Use the picture in question 1.
- Venice
- Lydia, home of early coins
- Florence
- Chengdu, home of the jiaozi
Which sentence about bills of exchange is careful, Zee asks?
Use the picture in question 1.
- Earlier notes came before Italy's bills
- Italy invented them from nothing in 1397
- The Medici invented money itself
- Bills of exchange came before coins
The Medici Bank was "the largest and most respected" in Europe. When, Ari asks?
Use the picture in question 1.
- In the 700s
- For each year from 1397 to today
- Before it was founded
- In its prime
Why would a written order be safer than carrying coins, Bo asks?
Use the picture in question 1.
- Paper cannot be lost, ever
- Coins weighed nothing
- Coins can be stolen and spent
- Bankers paid traders twice
Jun's note says, "A bill of exchange is a bag of coins." Which fix is right?
Use the picture in question 1.
- Change "bill" to "bank"
- Leave it: bills were bags of electrum
- Change it: a written order to pay
- Change "coins" to "pots"
Kira's note says, "The Medici Bank opened in the 700s." Which fix is right?
Use the picture in question 1.
- Change "Bank" to "Market"
- Leave it: it opened with flying money
- Change it: it was founded in 1397
- Change "Medici" to "Lydia"