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 - Building Confidence

NameDate

Circle the best answer.

1.
Who has the cloth, Tala asks?
- The potter, who makes pots
- No one in the table
- The farmer, who wants cloth
- The weaver
2.
Can the potter and the farmer swap goods directly, Zee asks?
Use the picture in question 1.
- No
- Yes, since each wants grain
- The table does not show the farmer
- Yes, the potter has the cloth the farmer wants
3.
Ari reads the word barter. What is barter?
Use the picture in question 1.
- Selling goods at a fair price
- Keeping coins in a bank
- Paying for goods with paper notes
- Swapping goods for goods
4.
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
- Each side wants what the other has
- Both sides want money from a bank
5.
Money is a store of value. What does that mean, Esme asks?
- It can be saved for later
- It is kept in a shop
- It is used to pay for goods today
- It is used to count what things are worth
6.
Jun's chain has a blank: what does a swap need in barter?
- Coins made of electrum
- A banker in another city to pay
- Paper notes from Chengdu
- Each side wants the other's goods
7.
Luz's chain has a blank: what happens to many swaps in barter?
- They need no goods
- They cannot happen directly
- They are paid for with coins
- They happen more easily than with money
8.
How could money help the potter get grain, Milo asks?
- Make grain out of clay
- Give the farmer pots the farmer does not want
- Sell pots, then pay for grain
- Wait until the farmer wants pots
9.
Why is the table labeled an example, Noah asks?
Use the picture in question 8.
- The traders are made up
- It is from the Song dynasty
- It is from the Medici Bank's books
- It is a record from a real village market
10.
Using money to count what goods are worth is which job of money, Pia asks?
- Medium of exchange, for paying
- Double coincidence of wants
- Store of value, for saving
- Unit of account

7th grade How money makes trading easier: coins, paper money and banks worksheet – printable — Print: 1 2 3 4 5 6

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.

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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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