Currencies (Grade 11 NSC Matric Tourism): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Why is foreign exchange essential for international tourism?
Why is foreign exchange essential for international tourism?
Tourists can't use home currency abroad
For a South African tourist in England, which currency is considered foreign?
For a South African tourist in England, which currency is considered foreign?
British pound
What are the common abbreviations for foreign exchange?
What are the common abbreviations for foreign exchange?
Forex or FX
What does a strong rand mean for South African tourists travelling abroad?
What does a strong rand mean for South African tourists travelling abroad?
It costs fewer rands to buy foreign money
What is the ISO code for the British pound?
What is the ISO code for the British pound?
GBP
Where can international visitors exchange foreign money in South Africa?
Where can international visitors exchange foreign money in South Africa?
Major banks, airports, and hotels
When converting FROM foreign currency TO rand, which operation do you use?
When converting FROM foreign currency TO rand, which operation do you use?
Multiply by the exchange rate
When converting FROM rand TO foreign currency, which operation do you use?
When converting FROM rand TO foreign currency, which operation do you use?
Divide by the exchange rate
What does the multiplier effect describe in tourism?
What does the multiplier effect describe in tourism?
Money circulates through economy multiple times
How do exchange bureaus make profit on currency exchanges?
How do exchange bureaus make profit on currency exchanges?
They buy at lower rates and sell at higher rates