MCQ Chapter 11 From Barter to Money Class 7 Social Science Advertisement 1. What is the barter system?A system of exchanging goods and services without using moneyA system of using coins for transactionsA system of digital paymentsA system of storing wealthQuestion 1 of 202. What is a key feature of money as described?It is only used for digital transactionsIt is a common tool accepted for paymentsIt cannot be stored for future useIt is only made of precious metalsQuestion 2 of 203. What is a transaction?A type of currencyA piece of business involving buying or sellingA form of digital moneyA method of minting coinsQuestion 3 of 204. What were Rai stones used for?Building housesAs money on Yap IslandAs tools for farmingAs decorative itemsQuestion 4 of 205. What is a commodity in the context of exchange?A type of digital currencyProducts or goods that can be traded, bought, and soldA service provided by banksA form of paper moneyQuestion 5 of 206. What is the double coincidence of wants?When two people want the same itemWhen two people each have something the other wantsWhen one person wants to sell but not buyWhen money is used instead of goodsQuestion 6 of 207. Why is divisibility a problem in the barter system?Goods cannot be split into smaller parts for exchangeGoods are too heavy to carryGoods rot quicklyGoods are not valuableQuestion 7 of 208. What does portability refer to in the context of exchange?The ability to store goods for a long timeThe ability to carry or move goods from one place to anotherThe ability to divide goods into smaller partsThe ability to measure the value of goodsQuestion 8 of 209. What is durability in the context of the barter system?The ability to divide goodsThe ability to withstand damage and be stored for longThe ability to carry goods easilyThe ability to measure valueQuestion 9 of 2010. What is a common standard measure of value?An agreed-upon worth for transactionsA type of coin used in ancient timesA digital payment methodA bartered commodityQuestion 10 of 2011. What is one limitation of the barter system?It uses digital paymentsIt requires a double coincidence of wantsIt is controlled by banksIt uses paper currencyQuestion 11 of 2012. What is the Junbeel Mela known for?Digital transactionsBartering of local productsMinting coinsIssuing paper currencyQuestion 12 of 2013. What is a medium of exchange?A tool used to store wealthA common item used to facilitate tradeA type of commodity that rots quicklyA method of dividing goodsQuestion 13 of 2014. How does money act as a store of value?It can be used only for immediate purchasesIt can be kept for future use without spoilingIt cannot be dividedIt is not portableQuestion 14 of 2015. What is a common denomination in the context of money?A type of commodityA measure of the value of goods and servicesA form of digital paymentA type of barter systemQuestion 15 of 2016. What is a standard of deferred payment?A method of storing coinsA way of making payments laterA type of commodity exchangeA form of barteringQuestion 16 of 2017. What is minting?The process of producing paper currencyThe process of producing coinsThe process of exchanging goodsThe process of digital transactionsQuestion 17 of 2018. What is an alloy in the context of coins?A type of paper currencyA metal made by combining two or more metallic elementsA digital payment methodA bartered commodityQuestion 18 of 2019. What were kārṣhāpaṇas or paṇas?Types of paper currencyCoins made from precious metals or alloysDigital payment systemsBartered commoditiesQuestion 19 of 2020. What is the obverse of a coin?The side with the tail designThe side bearing the head or principal designThe edge of the coinThe reverse side with motifsQuestion 20 of 20 Loading...
Leave a Reply