O-LevelEconomicsMicroeconomic decision makers2281/13 · Oct/Nov 2025 · Q101 Mark

Why do banknotes function as money?

AThey are backed by gold.

BThey are durable.

CThey are generally acceptable.

DThey have intrinsic value.

✓ Correct answer

C: They are generally acceptable.

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2025 Paper 1 Variant 3, question 10.

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