EXERCISES ON NOTING DETAILS, LOCATING THE TOPIC SENTENCE,OUTLINING

(TEACHERS’ GUIDE)NOTING DETAILS

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Read the essay below & answer the questions that follow
.Money is one of the greatest inventions made by man. Money came into use in
response or the need for a better system of transacting goods other than
barter. The earliest forms of money consisted of commodities, gold and silver coins
and paper notes. With the emergence of a modern banking system, paper money came
to be accepted. as true money as well as bank drafts o r c h e c k s . A n y f o r m
of money should meet the following characteristics if it is to
becomegenerally acceptable: portability, homogeneity, durability
r e c o g n i z a b i l i t y d i v i s i b i l i t y . malleability, elasticity of supply and stability
of value. There are many reasons why money is important to all of us. rom its
main function as a medium of exchange and a standard of value money is now a
standard of deferred payments and a store of value.

A. What are the five forms of money?

1. Commodities
2. Gold and silver coins
3. Paper notes/money
4. Bank drafts
5. Checks
B. What are the uses of money?
1. System of transacting goods other than barter.
2. Medium exchange.
3. Standard value
4. Standard of deferred payments.
5. Store of value
C. What are the characteristic of money?
1. Portability 7.Elasticity of supply
2. Homogeneity 8.Stability of value
3. Durability

4. R e c o g n i z a b i l i t y
5. Divisibility
6. Malleability