Q.1. Choose the correct answer.
(i) Exchange of commodity for another is called__________.
(a) Exchange system
(b) Barter system
(c) Symbolic value system
Correct Answer is Option (b)
(ii) Paper money was invented in __________
(a) China
(b) India
(c) America
Correct Answer is Option (a)
(iii) Metal Coins were invented by_________
(a) Indians
(b) Chinese
(c) Lydians
Correct Answer is Option (c)
(iv) In ancient times metal coins were made of ________
(a) Precious metals
(b) Inexpensive metals
(c) Leather
Correct Answer is Option (a)
(v) Which of the following term describes money?
(a) Real value
(b) Goods and services
(c) Medium of exchange
Correct Answer is Option (c)
Q.2. Fill in the blanks.
(i) _________is a symbol that represents the value of goods and services.
(ii) _________was used as money in early societies in Europe.
(iii) Ox - Shaped bars of copper was used as money in the __________ eastern Mediterranean.
(iv) People began exchanging items that had no real value, but had only________ value.
(v) The process of stamping of pictures on metals is known as ___________.
(vi) The first bank in Europe to issue printed money is ______________ .
(i) Money
(ii) Salt
(iii) Eastern
(iv) Symbolic
(v) Minting
(vi) Swedish Bank
Q.3. Match the following.
(i) Norwegians - Bronze in the shape of tools and shells.
(ii) People of Paraguay - Precious metal
(iii) Symbolic currency used in America - Butter
(iv) Ancient Egyptian currency - Wampum
(v) Ancient Chinese coins - Snails
(i) Norwegians - Butter
(ii) People of Paraguay - Snails
(iii) Symbolic currency used in America - Wampum
(iv) Ancient Egyptian currency - Precious Metal
(v) Ancient Chinese coins - Bronze in shape of tools and shells.
Q.4. Re - order the following terms according to their order of existence.
(i) Bank notes
(ii) Barter system
(iii) Coins
(iv) Paper money
(i) Barter System
(ii) Coins
(iii) Paper Money
(iv) Bank Notes
Q.5. Crossword Puzzle
Down:
Across (right to left):
Down
- Bronze
- Wampum
- China
Across
- Barter
- Money
- India
- Minting
- Rice
26 videos|33 docs
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1. What is money and why is it important? |
2. What are the different forms of money? |
3. How is money created? |
4. What are the functions of money? |
5. How does the value of money fluctuate? |
26 videos|33 docs
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