How money makes trading easier: coins, paper money and banks

Grade 7 Social Studies Worksheet - Building Confidence

Circle the best answer.

2. 1.

   In Ren's table, what does the potter want?

   • Coins from the weaver
   • Cloth, which the farmer wants
   • Grain
   • Pots, which the potter already has
3. 2.

   Who has the cloth, Tala asks?

   Use the picture in question 1.

   • The farmer, who wants cloth
   • The potter, who makes pots
   • No one in the table
   • The weaver
4. 3.

   Can the potter and the farmer swap goods directly, Zee asks?

   Use the picture in question 1.

   • The table does not show the farmer
   • Yes, since each wants grain
   • Yes, the potter has the cloth the farmer wants
   • No
5. 4.

   Ari reads the word barter. What is barter?

   Use the picture in question 1.

   • Paying for goods with paper notes
   • Keeping coins in a bank
   • Swapping goods for goods
   • Selling goods at a fair price
6. 5.

   What is a double coincidence of wants, Bo asks?

   Use the picture in question 1.

   • Two traders want the same good at once
   • One side wants two of the same thing
   • Both sides want money from a bank
   • Each side wants what the other has
7. 6.

   Money is a store of value. What does that mean, Esme asks?

   • It is kept in a shop
   • It is used to count what things are worth
   • It is used to pay for goods today
   • It can be saved for later
8. 7.

   Luz's chain has a blank: what happens to many swaps in barter?

   • They happen more easily than with money
   • They cannot happen directly
   • They are paid for with coins
   • They need no goods
10. 8.

    How could money help the potter get grain, Milo asks?

    • Sell pots, then pay for grain
    • Make grain out of clay
    • Give the farmer pots the farmer does not want
    • Wait until the farmer wants pots
11. 9.

    Why is the table labeled an example, Noah asks?

    Use the picture in question 8.

    • It is a record from a real village market
    • The traders are made up
    • It is from the Song dynasty
    • It is from the Medici Bank's books
12. 10.

    Using money to count what goods are worth is which job of money, Pia asks?

    • Unit of account
    • Store of value, for saving
    • Medium of exchange, for paying
    • Double coincidence of wants