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Grade 7 · Social Studies

7th grade How money makes trading easier: coins, paper money and banks worksheet

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

Grade 7 Social Studies Worksheet - Challenge Me

NameDate

Circle the best answer.

  2. What does a trader carry when paying with a bill of exchange, Luz asks?

    • Heavy metal that can be lost or stolen
    • A written order
    • Strings of coins on a cart
    • Electrum bars

  3. What risk does the table give for carrying coins, Milo asks?

    Use the picture in question 1.

    • They are written orders
    • They grow lighter each day
    • They are paid out by a banker far away
    • They can be lost or stolen

  4. Who pays out the money on a bill of exchange, Noah asks?

    Use the picture in question 1.

    • A banker in another city
    • A potter in exchange for pots
    • The trader's own family at home
    • The ruler of Lydia

  5. Where was the Medici Bank founded, Tala asks?

    Use the picture in question 1.

    • Florence
    • Lydia, home of early coins
    • Chengdu, home of the jiaozi
    • Venice

  6. Which sentence about bills of exchange is careful, Zee asks?

    Use the picture in question 1.

    • The Medici invented money itself
    • Bills of exchange came before coins
    • Italy invented them from nothing in 1397
    • Earlier notes came before Italy's bills

  7. The Medici Bank was "the largest and most respected" in Europe. When, Ari asks?

    Use the picture in question 1.

    • For each year from 1397 to today
    • In the 700s
    • Before it was founded
    • In its prime

  8. Why would a written order be safer than carrying coins, Bo asks?

    Use the picture in question 1.

    • Paper cannot be lost, ever
    • Coins can be stolen and spent
    • Coins weighed nothing
    • Bankers paid traders twice

  9. Esme's note says, "Flying money came from Italy." Which fix is right?

    Use the picture in question 1.

    • Change "Italy" to "Tang China"
    • Leave it: Italy made the first notes
    • Change "Flying" to "Heavy"
    • Change "money" to "grain"

  10. Jun's note says, "A bill of exchange is a bag of coins." Which fix is right?

    Use the picture in question 1.

    • Leave it: bills were bags of electrum
    • Change it: a written order to pay
    • Change "bill" to "bank"
    • Change "coins" to "pots"

  11. Kira's note says, "The Medici Bank opened in the 700s." Which fix is right?

    Use the picture in question 1.

    • Change "Medici" to "Lydia"
    • Change it: it was founded in 1397
    • Change "Bank" to "Market"
    • Leave it: it opened with flying money
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7th grade How money makes trading easier: coins, paper money and banks worksheet – printable
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About this worksheet

How money makes trading easier: coins, paper money and banks. Every version has 10 questions, and the answer key prints on the second page.

What your child will learn

  • I can explain barter's double coincidence of wants with a made-up three-trader table, and name money's three jobs.
  • I can follow money from Lydia's electrum coins (about the 600s BCE) to Song China's jiaozi (1000s CE), and work out prices and spans that cross BCE and CE.
  • I can explain how notes and bills of exchange moved money safely over long distances, from Tang China (700s) to Italy (1200s–1400s) and the Medici Bank (1397).

Standard: D2.Eco.5.6-8

Common mistakes

Your child read the wrong row of the chart. Find the row's name first, then read across.

Your child gave one reason when several worked together. Look for each reason in the chart.

Your child chose a claim that says more than the evidence shows. Keep the claim as small as the evidence.

Questions parents ask

What is the most common mistake with how money makes trading easier: coins, paper money and banks?

Your child read the wrong row of the chart. Find the row's name first, then read across.

Are these 7th grade social studies worksheets free to print?

Yes. All 6 printable versions at each level are free to print, with the answer key, and no account is needed.

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