Hello, (friend's name)! In my last letter, I wrote to you about how I spent my summer. Summer is over, school days have begun. My first day at school was spent at home, since no one goes to school now, everyone studies remotely. All lessons were held in the app for learning. We were given tasks and we did them. There weren't many lessons, because we were just starting to learn. In all the lessons, we repeated the topics from last year. That's how my first day of school went. I'm sorry, but I have to stop writing because school has started and I have to get ready for class. It was your pen friend. Bye!
Hello, (friend's name)! In my last letter, I wrote to you about how I spent my summer. Summer is over, school days have begun. My first day at school was spent at home, since no one goes to school now, everyone studies remotely. All lessons were held in the app for learning. We were given tasks and we did them. There weren't many lessons, because we were just starting to learn. In all the lessons, we repeated the topics from last year. That's how my first day of school went. I'm sorry, but I have to stop writing because school has started and I have to get ready for class. It was your pen friend. Bye!
(your name)
1. What is money?
c) a medium of exchange
2. Why can money serve as a standard of value?
c) it determines the relative cost of goods and services
3. Is private production of money legal?
a) no
4. What is necessary in a barter economy?
a) double coincidence of wants
5. What is the essential condition for survival of token money?
b) restriction to the right to supply it
6. What is token money?
c) coins and banknotes
7. What is the distinctive feature of production of paper money?
c) tiny cost
8. What does money determine?
a) relative cost of different goods and services
9. How did people get goods in primitive societies?
b) they exchanged one thing for another
10. What was each person in a barter economy?
c) a seller and a buyer