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5Points Quiz

Which is one of the limitations of the barter system of exchange?

        A.   It didn't encourage face-to-face contacts during transaction

        B.   It discouraged movement of bulky goods

        C.   There was accurate measure of value

        D.   Indivisibility of certain good

Answer: D

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Which is one of the limitations of the barter system of exchange?

        A.   It didn't encourage face-to-face contacts during transaction

        B.   It discouraged movement of bulky goods

        C.   There was accurate measure of value

        D.   Indivisibility of certain good

Answer: D

For More Quiz Questions click here to download Global Quiz on Google PlayStore

Which pair is not characteristic of money?

        A.   Scarcity and Stability

        B.   Divisibility and Cognisability

        C.   Probability and Heterogeneity

        D.   General acceptability and Durability

Answer: C

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Which one is not a function of money?

        A.   Store of high value

        B.   Medium of exchange

        C.   Unit of account

        D.   Standard of deferred payment

Answer: A

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What do you understand by this statement, "for money to be generally acceptable, it must be backed up by the institutional force of law".

        A.   It must have economic and social value

        B.   It must have the backing of the government and the legal system

        C.   It must be accepted by all and sundry

        D.   It must be backed up by the Police Force

Answer: B

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In economic term, what is Money?

        A.   In Nigeria, money is just Naira and Kobo we use to purchase goods and services

        B.   Physical cash with which he carries out his daily transactions

        C.   A number of financial instruments which is acceptable as a medium of exchange and settlement of debts

        D.   Any form of cash that can be used for buying and selling

Answer: C

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Which one is not a specialized bank?

        A.   Mortgage bank

        B.   Peoples Bank

        C.   Micro-finance bank

        D.   Merchant bank

Answer: D

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Which one is not a function of Development Banks?

        A.   Preparation of feasibility studies on a consultancy basis

        B.   Discounting of bills and deposit acceptance

        C.   Provision of technical assistance

        D.   Provide long term and medium term financing for industry and projects

Answer: B

For More Quiz Questions click here to download Global Quiz on Google PlayStore


For More Quiz Questions click here to download Global Quiz on Google PlayStore


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