How money makes trading easier: coins, paper money and banks
Grade 7 Social Studies Worksheet - Building Confidence
NameDate
Circle the best answer.
In Ren's table, what does the potter want?
- Cloth, which the farmer wants
- Coins from the weaver
- Pots, which the potter already has
- Grain
Who has the cloth, Tala asks?
Use the picture in question 1.
- The farmer, who wants cloth
- The weaver
- No one in the table
- The potter, who makes pots
Ari reads the word barter. What is barter?
Use the picture in question 1.
- Paying for goods with paper notes
- Selling goods at a fair price
- Swapping goods for goods
- Keeping coins in a bank
What is a double coincidence of wants, Bo asks?
Use the picture in question 1.
- Each side wants what the other has
- Two traders want the same good at once
- Both sides want money from a bank
- One side wants two of the same thing
Money is a store of value. What does that mean, Esme asks?
- It is used to pay for goods today
- It is kept in a shop
- It is used to count what things are worth
- It can be saved for later
Jun's chain has a blank: what does a swap need in barter?
- Each side wants the other's goods
- A banker in another city to pay
- Paper notes from Chengdu
- Coins made of electrum
Kira's chain has a blank: what makes trading easier?
- More barter between more traders
- Wanting nothing
- Money
- Fewer goods to trade
How could money help the potter get grain, Milo asks?
- Wait until the farmer wants pots
- Sell pots, then pay for grain
- Give the farmer pots the farmer does not want
- Make grain out of clay
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
Using money to count what goods are worth is which job of money, Pia asks?
- Store of value, for saving
- Double coincidence of wants
- Unit of account
- Medium of exchange, for paying