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Session 1 Quiz

Test What You Learned!

This quiz covers everything from Session 1: the origins of money, what gives it value, money as a tool, and the concept of Amana. Get 6 or more right and you have mastered Session 1!

How it works:

Progress

1

What is barter?

  • Using coins to buy things at a market
  • The direct exchange of goods or services without money
  • Saving money in a bank account
  • Borrowing money from a friend
2

What is the "double coincidence of wants"?

  • When two people both want the same item
  • When both people in a trade must want what the other has
  • When you accidentally buy two of the same thing
  • When a store runs out of what you want
3

Why does money have value?

  • Because it is made of expensive materials
  • Because the government forces people to use it
  • Because everyone agrees it has value (shared trust)
  • Because banks print it on special paper
4

What is the difference between intrinsic value and assigned value?

  • Intrinsic value comes from the thing itself; assigned value comes from agreement
  • Intrinsic value is for expensive items; assigned value is for cheap items
  • They mean the same thing
  • Intrinsic value changes every day; assigned value stays the same
5

When we say "money is a tool," what do we mean?

  • Money is made in a factory like other tools
  • Money helps you accomplish goals, just like a hammer helps you build
  • You should collect as much money as possible
  • Money is heavy and hard to carry, like tools
6

What does Amana mean?

  • A type of savings account
  • Trust or stewardship — the idea that what we have is entrusted to us
  • A rule about not spending money
  • The Arabic word for money
7

What is the difference between an owner mindset and a steward mindset about money?

  • An owner spends more; a steward saves more
  • An owner says "it is mine to do whatever I want"; a steward says "I am responsible for using it wisely"
  • There is no real difference
  • An owner is rich; a steward is poor
8

Which of these is an example of using money as a tool rather than treating it as a goal?

  • "I want to be the richest person in my school."
  • "I am saving $15 to buy art supplies for a project I want to make."
  • "I just want more and more money."
  • "Money is the most important thing in life."