Class 9 Exam > Class 9 Notes > Introduction to Financial Markets for Class 9 > Chapter Based Questions: Money- what it is ?
Chapter Based Questions: Money- what it is ? | Introduction to Financial Markets for Class 9 PDF Download
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:
- Chinese used this metal to make coins in earlier times
- Symbolic currency used earlier in America
- Paper currency was first used in this country.
Across (right to left):
- Exchange of commodities for another is known as.
- Symbol that represents goods and services
- Cowrie shells are found on an island off the coast of this country.
- Stamping pictures on metals.
- Crops used as money.
Down
- Bronze
- Wampum
- China
Across
- Barter
- Money
- India
- Minting
- Rice
The document Chapter Based Questions: Money- what it is ? | Introduction to Financial Markets for Class 9 is a part of the Class 9 Course Introduction to Financial Markets for Class 9.
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FAQs on Chapter Based Questions: Money- what it is ? - Introduction to Financial Markets for Class 9
| 1. What is money and why is it important? |  |
Ans. Money is a medium of exchange that is widely accepted as payment for goods, services, and debts. It serves as a measure of value and facilitates economic transactions. Money is important because it allows individuals to trade for the things they need and want, encourages economic growth and development, and helps in the allocation of resources.
| 2. What are the different forms of money? | |
Ans. Money can exist in various forms, including physical forms like coins and banknotes, as well as digital forms like electronic transfers and online payments. Some other forms of money include checks, prepaid cards, and cryptocurrencies like Bitcoin.
| 3. How is money created? | |
Ans. Money is created through a process called fractional reserve banking. When banks receive deposits from customers, they are required to keep only a fraction of those deposits as reserves and can lend out the rest. This lending process creates new money in the economy. Additionally, central banks can also create money through open market operations and other monetary policies.
| 4. What are the functions of money? | |
Ans. Money serves three main functions: a medium of exchange, a unit of account, and a store of value. As a medium of exchange, money allows people to trade goods and services without the need for bartering. As a unit of account, money provides a common measure of the value of goods and services. Lastly, as a store of value, money can be saved and used for future purchases.
| 5. How does the value of money fluctuate? | |
Ans. The value of money can fluctuate due to various factors such as inflation, changes in interest rates, economic conditions, and government policies. Inflation erodes the purchasing power of money over time, while changes in interest rates can affect the value of currencies in relation to each other. Economic conditions and government policies can also impact the value of money by influencing factors like exchange rates and confidence in the currency.
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