Session 1 Quiz

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."