| A | B |
|---|
| What is the trading or exchanging of goods and services without the use of money called? | Barter |
| Who commonly used credit in Colonial Virginia? | Farmers |
| What was commonly used instead of money in colonial Virginia? | Barter |
| A good or service owed to someone is known as____________________. | Debt |
| Which crop was often used as money? | Tobacco |
| What is buying a good or service now and paying for it later called? | Credit |
| Using ______________ is when you get the product or service now, but pay for it later | Credit |
| A _______________ is when you owe a good or service to someone else | Debt |
| True or False: Colonial Virginia had no banks | True |
| What was commonly used in colonial Virginia instead of money? | Barter |
| Farmer John bought corn and seed to plant his crops and paid the store when the when the corn grew and sold. This is an example of __________. | Buying on credit and paying his debt |
| ___________ was not often used in the early Virginia colony. | Money |
| A medium of exchange | Money |
| Trading or exchanging of goods and services without the use of money. | Barter |
| Buying a good or service now and paying for it later | Credit |
| A good or service owed to someone | Debt |
| Money put away to save or to spend at a later time | Savings |
| Few people had _________ ___________ or ____________ to use to buy ____________ and ________________. | Paper Money; Coins; Goods; Services |
| _____________ was commonly used instead of _____________. | Barter; Money |
| ____________ was used as money. | Tobacco |
| A ___________ ____________ could use his tobacco to pay for __________ and __________. | Tobacco Farmer; Good; Services |
| ____________ and other ___________ could also buy goods and services on ___________ and pay their ________ when their crops were _____________ and sold. | Farmers; Consumers; Credit; Debts; Harvested |
| True or False: Colonial Virginia had banks. | False |
