from barter system to money chapter 11

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MCQ Social Science Class 7
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Social Science Class 7

From Barter System to Money Chapter 11

CBSE Board

Teacher Name : Rakesh
Total Questions : 12
Time Allowed : 60
Total Marks : 12

Q 1 :Which of the following is a disadvantage of the barter system?
- It simplifies transactions
- It allows for easy trade
- It is universally accepted
- Double coincidence of wants is necessary
Q 2 :What is a primary benefit of digital payments over cash transactions?
- Higher transaction fees
- Limited accessibility
- Increased risk of theft
- Convenience and speed
Q 3 :Which of the following is NOT a feature of the Reserve Bank of India (RBI)?
- It regulates monetary policy
- It issues digital currencies
- It manages currency security
- It supervises banks
Q 4 :What is the primary function of the barter system?
- To facilitate loans
- To store wealth
- To exchange goods and services directly
- To create money
Q 5 :What is a key limitation of the barter system?
- It requires no negotiation
- It can be inefficient and time-consuming
- It is always fair
- It is universally accepted
Q 6 :Which ancient currency was commonly used in trade?
- Digital coins
- Paper notes
- Cowrie shells
- Gold bars
Q 7 :Which of the following is an example of a commodity used in barter?
- Banknotes
- Salt
- Stocks
- Credit cards
Q 8 :What is the main purpose of currency security features?
- To simplify transactions
- To increase the value of currency
- To prevent counterfeiting
- To make currency more attractive
Q 9 :How did the introduction of money improve trade?
- It made barter more complex
- It eliminated the need for direct exchange of goods
- It limited trade to local markets
- It reduced the number of goods available
Q 10 :In a barter system, what must both parties have?
- A common currency
- A written contract
- A third-party mediator
- A mutual need for each other's goods
Q 11 :What was one of the main features of ancient Indian coins?
- They had no value
- They were all made of gold
- They were used only for barter
- They had unique designs and inscriptions
Q 12 :What does the term 'UPI' stand for in modern banking?
- United Payment Interface
- Unified Payments Interface
- Unified Payment Institution
- Universal Payment Integration

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