LIFE IN THE UK CHAPTER TEST SERIES EXAM 4.3

The British Pound Sterling, often simply called the pound, has been the official currency of the United Kingdom since the 13th century. Its rich history and enduring stability have cemented its role as a pivotal element of the UK’s economic and political landscape.

1 / 21

During which religious celebration do Muslims sacrifice an animal to eat?

Eid ul Adha

Eid a-Fitr

Ramadan

Vaisakhi

2 / 21

Which notable British artist was a portrait painter who often painted people in country or garden scenery?

Thomas Gainsborough

David Allan

Joseph Turner

John Constable

3 / 21

What time do pubs usually open during the week?

9 am

10 am

11 am

12 pm

4 / 21

Where is the city of Swansea located?

In England

In Scotland

In Wales

In the Isle of Man

5 / 21

When is Diwali normally celebrated?

June or July

October or November

November or December

March or April

6 / 21

What is the currency in the UK?

Euro

Dollar

Pound

Dinar

7 / 21

When was the first tennis club founded in the UK?

1772

1872

1862

1762

8 / 21

Who directed the movie ‘Chariots of Fire’ in 1981?

Mike Newell

Hugh Hudson

Kevin MacDonald

Nicolas Roeg

9 / 21

Where is the National Gallery of Scotland located?

In Edinburgh

In Glasgow

In Aberdeen

In Fife

10 / 21

Which of the following gardens is located in Wales?

Bodnant Garden

Kew Gardens

Hidcote

Sissinghurst

11 / 21

When was St Pancras Station built?

In the 18th century

In the 19th century

In the 20th century

In the 21st century

12 / 21

Who were the Pre-Raphaelites?

An important group of musicians from the 16th century

An important group who demanded the vote for the working classes

An important group of artists in the second half of the 19th century

A group of explorers who arrived in the south-east coast of Australia

13 / 21

Which of the following castles is located in Scotland?

Conwy Castle

Caernarfon Castle

Crathes Castle

Windsor Castle

14 / 21

According to the 2011 Census, what percentage of the population identified themselves as Jewish?

Less than 0.5%

Less than 1%

Less than 1.5%

Less than 2%

15 / 21

What is the nickname given to the great bell of the clock at the House of Parliament in London?

Tower of London

Buckingham clock

Big Ben

Big Clock

16 / 21

How many Welsh-language channels are there in Wales?

None

One

Two

Three

17 / 21

When is St George’s Day, patron of England, celebrated?

23rd of April

1st of March

17th of March

30th of November

18 / 21

When did Sir Alfred Hitchcock die?

1970

1975

1978

1980

19 / 21

Where is the UK geographically located?

In the north east of Europe

In the south east of Europe

In the north west of Europe

In the south west of Europe

20 / 21

What was the population of the UK in 1801?

5 million

8 million

10 million

12 million

21 / 21

Which of the following venues is located in Glasgow?

The O2

Wembley Stadium

The SEC Centre

Buckingham Palace

Your score is

The average score is 0%

A Brief History

To fully grasp the pound’s significance, it’s important to delve into its history. The currency’s name originates from the Latin term “libra pondo,” meaning “pound weight,” which reflects its original value in silver. Over the centuries, the pound has weathered numerous economic upheavals, such as the Napoleonic Wars, both World Wars, and the Great Depression. Despite these challenges, it has maintained its status as a global reserve currency, highlighting the UK’s longstanding economic influence.

The Pound as a Store of Value

One of the fundamental functions of any currency is to serve as a store of value, and the pound has historically excelled in this role. While inflation can diminish its purchasing power over time, the pound remains relatively stable compared to many other currencies. This stability has helped the UK establish a reputation as a safe haven for investors during periods of economic uncertainty.

Medium of Exchange

As a medium of exchange, the pound facilitates the buying and selling of goods and services within the UK economy. Its widespread acceptance ensures smooth transactions, from everyday purchases to large-scale commercial deals. The efficiency of the payment system, supported by banks and electronic platforms, enhances the pound’s role as a medium of exchange.

Unit of Account

The pound serves as a common measure for economic value. Prices of goods and services are quoted in pounds, simplifying cost comparisons and informed purchasing decisions. Additionally, the pound is used to calculate incomes, profits, and debts, providing a standardized measure for economic analysis.

The Pound on the Global Stage

The pound sterling is one of the world’s most widely traded currencies, reflecting the UK’s historical role in international finance. London, as a global financial center, hosts numerous banks and investment firms. The pound’s liquidity and convertibility make it an attractive asset for investors worldwide.

The UK’s decision to leave the European Union (Brexit) significantly impacted the pound. The currency experienced volatility as markets reacted to the uncertainty surrounding the future relationship between the UK and the EU. While the pound has recovered some of its losses, the long-term effects of Brexit on the currency remain to be seen.

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