Which of the following is the correct statement?
- ✓Coinage is a modem form of money.
- BCoinage was introduced in the 20th century.
- CMinting is done by common citizens.
- DCoins are made from precious metals.
Answer: A.
View full solution →Question types
From Barter to Money question types
42 questions across 8 question groups — pick any mix to generate a Social Studies paper with step-by-step answer keys.
42
Questions
8
Question groups
5
Question types
01
MCQ (1 Mark)
10 Q→02Assertion and Reason (1 Mark)
7 Q→03True Or False.[1 Marks Each]
8 Q→04Fill In The Blanks [1 Mark]
5 Q→05VSQ (2 Marks)
6 Q→06SHORT ANSWER QUESTIONS(3 Mark)
2 Q→07LONG ANS. QUESTIONS(5 Mark)
3 Q→08Match the Following.
1 Q→Sample Questions
From Barter to Money questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
Consider the following statement:
(i) The barter system used metallic money
(ii) 1 anna was equal to 1/16 of a ruppee
(iii) Roman gold coins have been excavated in Pudukottai.
(i) The barter system used metallic money
(ii) 1 anna was equal to 1/16 of a ruppee
(iii) Roman gold coins have been excavated in Pudukottai.
- ✓(i) only
- B(ii) only
- C(iii) only
- D(i) and (ii)
Answer: A.
View full solution →What are cowrie shells an example of?
- ACoinage
- BPaper currency
- ✓Commodity money
- DDigital currency
Answer: C.
View full solution →The symbol? of the rupee was introduced in which year?
- A2005
- ✓2010
- C2015
- D2020
Answer: B.
View full solution →In the Junbeel Mela, what system of exchange is followed?
- ADigital payment
- ✓Barter system
- CCoinage
- DBanking
Answer: B.
View full solution →Assertion (A): The use of coins boosted maritime trade in India.
Reason (R): Coins were accepted across regions and helped easy transactions.
Reason (R): Coins were accepted across regions and helped easy transactions.
- ABoth (A) and (R) are true and (R) is the correct explanation of (A).
- ✓Both (A) and (R) are true but (R) is not the correct explanation of (A).
- C(A) is correct but (R) is wrong.
- D(A) is wrong but (R) is correct.
Answer: B.
View full solution →Assertion (A): Double coincidence of wants was a problem in barter.
Reason (R): Both parties needed to want what the other had.
Reason (R): Both parties needed to want what the other had.
- ✓Both (A) and (R) are true and (R) is the correct explanation of (A).
- BBoth (A) and (R) are true but (R) is not the correct explanation of (A).
- C(A) is correct but (R) is wrong.
- D(A) is wrong but (R) is correct.
Answer: A.
View full solution →Assertion (A): Money can be stored for future use.
Reason (R): It acts as a store of value.
Reason (R): It acts as a store of value.
- ABoth (A) and (R) are true and (R) is the correct explanation of (A).
- ✓Both (A) and (R) are true but (R) is not the correct explanation of (A).
- C(A) is correct but (R) is wrong.
- D(A) is wrong but (R) is correct.
Answer: B.
View full solution →Assertion (A): Coinage replaced paper money due to durability.
Reason (R): Paper notes tear easily.
Reason (R): Paper notes tear easily.
- ✓Both (A) and (R) are true and (R) is the correct explanation of (A).
- BBoth (A) and (R) are true but (R) is not the correct explanation of (A).
- C(A) is correct but (R) is wrong.
- D(A) is wrong but (R) is correct.
Answer: A.
View full solution →Assertion (A): Money is a medium of exchange.
Reason (R): It allows buying and selling without direct product exchange.
Reason (R): It allows buying and selling without direct product exchange.
- ABoth (A) and (R) are true and (R) is the correct explanation of (A).
- ✓Both (A) and (R) are true but (R) is not the correct explanation of (A).
- C(A) is correct but (R) is wrong.
- D(A) is wrong but (R) is correct.
Answer: B.
View full solution →The rupee symbol ? is based only on the Roman script.
Money helps in deferred payments.
Divisibility is one of the issues with the barter system.
The coinage system came before the barter system.
The Reserve Bank of India is the only institution allowed to issue currency in India.
The word ‘rupa’ was used for coins and is the root of the modem word _______.
Paper currency was introduced in India in the _______ century.
The barter system required a double _______ of wants.
In the barter system, there is no common _______ of value.
Money acts as a _______ of value.
Suppose you need to buy a book. You have ?50 in your pocket. You visit the bookshop in your neighbourhood where the shopkeeper tells you that the book is worth ?100. What options do you have to buy the book today? Will you request the shopkeeper to allow you to make the rest of the payment later?
Look at a 50 and a 100-rupee note. Can you identify the motifs depicting India’s cultural heritage on the reverse side of the notes? Find out more about them. Feel the surface of the notes. What special features of currency notes help visually impaired persons to identify the notes’ denominations?
Organise yourselves into groups of five students each. Take up a group project to collect old coins from family members, neighbours, shopkeepers, and so on. Document their various features what are they made of, what is the year inscribed on the coins, what do you observe on the obverse and reverse sides of the coins. What can you guess from your observations? How would you know if your guesses are true?
How has money transformed into various forms over time?
Why did money come into existence?
What are the instances of double coincidence of wants in the above example? Even if there are two people who want each other’s goods and are also willing to make an exchange, other issues could arise—in what proportion should the two goods be exchanged? In such cases, it becomes difficult to compare the value of one good against another. If one of the people feels that the exchange is disadvantageous, they would not be interested in the exchange. This is because there is no common standard measure of value.
In the situation given above, what are the cases where you could encounter the lack of a common standard measure of value?
In the situation given above, what are the cases where you could encounter the lack of a common standard measure of value?
The coins shown in the given figure were found during excavations in Pudukkottai in Tamil Nadu. Their heads embossed are those of Roman kings. What conclusions can we draw from such a finding?
What are the different ways in which money would make the above situation easier for the farmer?
What do you think happened as coins began to be used for all types of exchanges, whether to buy vegetables or to buy some land? What problems could have come up?
Look at the timeline given below. What are the changes in money that you observe?
| Column A | Column B |
| 1. UPI | (a) Making coin |
| 2. Minting | (b) cowrie shells, salt |
| 3. RBI | (c) Unified Payments Interface |
| 4. Commodity money | (d) Reserve Bank of India |
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