#1
Which of the following is NOT a quality of a good exchange medium?
Durability
Portability
Intrinsic value
Fungibility
#2
What does 'fungibility' mean in the context of an exchange medium?
The medium can be divided into smaller units without losing value
The medium can be easily carried around
The medium can be exchanged for different goods of equal value
The medium is resistant to wear and tear
#3
Which of the following is NOT a characteristic of a good exchange medium?
Scarce
Easily counterfeited
Acceptable
Durable
#4
What is the term used to describe the ability of an exchange medium to retain its value over time?
Stability
Divisibility
Durability
Portability
#5
Which of the following is a key function of an exchange medium?
Providing entertainment
Facilitating trade
Ensuring political stability
Promoting social equality
#6
Which of the following is a characteristic of a good exchange medium?
Limited supply
High volatility
Legal restrictions
Acceptability
#7
What does 'acceptability' refer to in the context of an exchange medium?
The medium is widely recognized and trusted
The medium has a fixed value
The medium is made of precious metals
The medium is resistant to counterfeiting
#8
Which of the following is an example of a commodity used historically as an exchange medium?
#9
What term describes the ease with which an exchange medium can be transferred or carried?
Durability
Portability
Acceptability
Fungibility
#10
Which of the following is an example of a fiat currency?
Gold coins
Silver bars
Paper money
Barter goods
#11
Which of the following best describes 'divisibility' as a quality of an exchange medium?
The medium is easily transportable
The medium can be divided into smaller units without losing value
The medium has a stable value over time
The medium can be exchanged for different goods
#12
In the context of an exchange medium, what does 'unit of account' refer to?
The medium's ability to be divided into smaller units
The medium's ability to retain its value over time
The medium's use as a standard measure of value
The medium's acceptance by the government
#13
Which of the following is a characteristic of a cryptocurrency as an exchange medium?
Physical form
Centralized control
Government backing
Decentralization
#14
Which consensus mechanism is commonly used in blockchain networks like Bitcoin and Ethereum?
Proof of Authority
Proof of Stake
Proof of Work
Delegated Proof of Stake
#15
What term describes the process of swapping one cryptocurrency for another without using traditional financial intermediaries?