Question

Read the following passage carefully and answer the questions given below: 1 0

Tell someone that you are going to a convention of accountants and you might get a few yawns,

yet money and how it works is probably one of the most interesting things on earth. It is

fascinating and almost magical, how money appeared on our planet. Unlike most developments

we enjoy, which can be traced back to a source, civilization or inventor, money appeared in

places then unconnected all over the world in a remarkably similar way.

Consider the American Indians using Wampum, West Africans trading in decorative metallic

objects called Manillas, and the Fijians economy based on whale's teeth, some of which are still

legal tender; add to that shells, amber, ivory, decorative feathers, cattle including oxen & pigs, a

large number of stones including jade and quartz, which have all been used for trade across the

world, and we get a taste of the variety of accepted currency.

There is something charming and childlike imagining primitive societies, our ancestors, using all

these colorful forms of money. As long as everyone concerned can agree on a value, this is a

sensible thing for a community to do.

After all, the person who has what you need might not need what you have to trade. Money

solves that problem neatly. Real value with each exchange, and everyone gaining from the

convenience. The idea is really inspired, which might explain why so many diverse minds came

up with it. Once the money is accepted as a form of exchange, those who produce, loan out, and

manipulate the quantity of money are obviously in a very strong position. They are the "Money

Changers"."History records that the money changers have used every form of abuse, intrigue,

deceit, and violent means possible to maintain their control over governments by controlling

money and its issuance," said President James Madison.

Money, money, money, it's always just been there, right? Wrong. Obviously, it's issued by the

government to make it easy for us to exchange things. Wrong again!

Truth is, most people don't realise that the issuing of money is essentially a private business and

that the privilege of issuing money has been a major bone of contention throughout history.

On the basis of your understanding of the passage, answer ANY TEN questions from the twelve

that follow.

i. What is fascinating and almost magical?

a. Convention of Accountants

b. Evolution of Money

c. Yawning

d. All of the above

ii. What is unique about the development of money?

a. It can be traced back to a source

b. It has an inventor

c. It appeared in unconnected places in a similar way

d. It was developed in ancient civilization

iii. Which currencies did the West African use?

a. Manillas

b. Wampum

c. Whale's Teeth

d. Decorative Feathers

iv. What is still a legal tender in the Fijian Economy?

a. Cattle

b. Jade and Quartz

c. Shells and Ivory

d. Whale's Teeth

v. What is something charming and childlike to imagine?

a. Use of colourful forms of money

b. People living in Primitive Societies
c. Our ancestors agreeing on common values

d. All of the above

vi. Who are the "Money Changers"?

a. People who loan out money

b. People who manipulate the quantity of money

c. People who produce money

d. All of the above

vii. What did President James Madison say about the money changers?

a. They use violent methods to maintain control over the issuance of money.

b. They change money from time to time.

c. They work under the government's control.

d. They are polite and peaceful people.

viii. Who controls the issuance of money?

a. Government

b. Money Changers

c. President James Madison

d. Kings and their ministers

ix. What is meant by the word, 'concentration'? (para 1)

a. conference

b. fair

c. wave

d. competition

x. What is meant by the word, 'fascinating'? (para 2)

a. beautiful

b. valuable

c. attractive

d. republic

xi. What is meant by 'convenience'?

a. comfort

b. escape

c. clown

d. transport

xii. What is meant by the word, 'Intrigue'?

a. plot

b. interest

c. interval

d. fear​

Answer 1

Answer:

a-evolution of money

b-it has an inventor

c-manillas

d-whale's teeth

e-all of these

f-all of these

g-they use violent methods to maintain control over the insurance of money

h-precident james Madison

i-confrence

j-attractive

k-comfort

l-intrest

hello I am not sure ok but I sure it will helpful for you if there is mistake please rectify and give me the correct form

thank you

Answer 2

what is fascinating and almost magical