Test (elaborations) Economics and management sciences

Instructions:

- Answer all questions
- Write your answers on the spaces provided on the question paper
- Right neatly and legibly

Section A: THE HISTORY OF MONEY [26]

Question 1: THE HISTORY OF COINS AND PAPER MONEY (5)

1.1. MULTIPLE CHOICE QUESTIONS
Choose and circle the correct option that best matches the description
1.1.1. ………………. such as cows, sheep and camels were the first form of money. People exchange (1)
…………………by bartering.
A. Livestock and crops
B. Credit cards
C. Loans


1.1.2. Where first used as money in China, but many other societies have also used ………………….as money. (1)
A. Wood
B. Sand
C. Cowrie shells


1.1.3. Imitations of cowrie shells made of ……………. such as copper, were made in China at the end of stone (1)
age.
A. Base metals
B. Stones
C. Bricks


1.1.4. The first paper banknotes appeared in China. ……………………. was only used in Europe in the eighteenth (1)
and nineteenth centuries.
A. Livestock
B. Cowrie shells
C. Paper money

, 1.1.5. …………………………… Were first issued by the Diners Club in the United States of America to pay for (1)
restaurant bills.
A. Credit cards
B. Base metals
C. Precious coins




Question 2: BASIC NEEDS OF INDIVIDUALS (6)
2.1. Answer all the questions
2.1.1. List (3) types of needs and wants on the spaces provided
Needs Wants
1. 1.
2. 2.
3. 3.


Question 3: BASIC NEEDS FORT COMMUNITIES AND COUNTRIES (10)
3.1. Match column A with corresponding answers in column B.
COLUMN A COLUMN B
3.1.1. Health services A. Such as police, the army and firefighters
3.1.2. Transport services B. Such as clinics and hospitals
3.1.3. Communication services C. Such as schools, colleges and libraries
3.1.4. Education services D. Such as roads, buses, railways, trains, airports
3.1.5. Safety and security E. Such as postal service, telephones and information technology
ANSWERS:
3.1.1.
3.1.2.
3.1.3.
3.1.4.
3.1.5.