MCQs-Chapter 11-From Barter to Money-Class 7 Social Science

 Multiple Choice Questions- Chapter 11-From Barter to Money(Economics) Subject Social Science Class 7

**************************

Multiple Choice Questions:

1. What is the barter system?
   (a) Use of coins
   (b) Use of paper notes
   (c) Exchange of goods without money
   (d) Use of credit cards
   Ans: (c)
2. Which of these was NOT commonly used in barter?
   (a) Cowrie shells
   (b) Tea
   (c) Computers
   (d) Salt
   Ans: (c)
3. What is meant by "double coincidence of wants"?
   (a) Wanting two items at once
   (b) When both parties want what the other offers
   (c) Having more than one buyer
   (d) Selling to two people at the same time
   Ans: (b)
4. What was one major limitation of barter?
   (a) No exchange
   (b) Only done in markets
   (c) Difficult to find matching wants
   (d) Fixed prices
   Ans: (c)
5. What is portability in money terms?
   (a) Ability to use in all countries
   (b) Easy to divide
   (c) Easy to carry
   (d) Easy to spend
   Ans: (c)
6. What material was not used in ancient coins?
   (a) Iron
   (b) Silver
   (c) Plastic
   (d) Gold
   Ans: (c)
7. Coins with symbols and motifs were first made by:
   (a) Merchants
   (b) Common people
   (c) Rulers
   (d) Foreign traders
   Ans: (c)
8. Which system was used in India before coins?
   (a) UPI
   (b) Cowrie shells
   (c) Bitcoin
   (d) Credit cards
   Ans: (b)
9. What do motifs on coins include?
   (a) Ads
   (b) Barcodes
   (c) Trees, animals, deities
   (d) Numbers only
   Ans: (c)
10. Which modern tool allows digital transactions using QR codes?
    (a) Paper
    (b) Metal coins
    (c) UPI
    (d) Token money
    Ans: (c)
11. The unit paṇa is still known as:
    (a) Yen
    (b) Dirham
    (c) paṇam / haṇa
    (d) Rupee
    Ans: (c)
12. Who controls currency printing in India?
    (a) Finance Minister
    (b) RBI
    (c) Prime Minister
    (d) State Bank
    Ans: (b)
13. Why did paper money replace coins?
    (a) Cheaper
    (b) Easy to carry
    (c) More attractive
    (d) Ancient tradition
    Ans: (b)
14. What is durability in context of money?
    (a) Easy to divide
    (b) Easy to carry
    (c) Lasts longer
    (d) Easily lost
    Ans: (c)
15. Cowrie shells were used as:
    (a) Jewelry
    (b) Taxes
    (c) Currency
    (d) Food
    Ans: (c)
16. Which material is NOT used in today's coins?
    (a) Chromium
    (b) Carbon
    (c) Plastic
    (d) Silicon
    Ans: (c)
17. Coins issued by rulers were made in:
    (a) Markets
    (b) Factories
    (c) Mints
    (d) Banks
    Ans: (c)
18. Which state hosts the Junbeel Mela?
    (a) Gujarat
    (b) Tamil Nadu
    (c) Assam
    (d) Rajasthan
    Ans: (c)
19. What does the ₹ symbol combine?
    (a) Hindi and Tamil
    (b) Greek and Latin
    (c) Devanagari "Ra" and Roman "R"
    (d) Telugu and Urdu
    Ans: (c)
20. What is a QR code used for in payments?
    (a) Decoration
    (b) Language learning
    (c) To make digital payments
    (d) For games
    Ans: (c)
21. What is an example of a digital payment tool?
    (a) Cheque
    (b) Debit card
    (c) Cash
    (d) Voucher
    Ans: (b)
22. Why was money invented?
    (a) To replace language
    (b) To avoid trade
    (c) To solve problems of barter
    (d) To avoid work
    Ans: (c)
23. Which type of goods cannot be easily divided in barter?
    (a) Wheat
    (b) Ox
    (c) Cloth
    (d) Salt
    Ans: (b)
24. What is the head of a coin called?
    (a) Obverse
    (b) Reverse
    (c) Tail
    (d) Face
    Ans: (a)
25. Which of the following is a function of money?
    (a) Only used to buy food
    (b) Store of value
    (c) Heavy to carry
    (d) Cannot divide
    Ans: (b)
26. Which one of these is NOT a form of money?
    (a) Silver coin
    (b) Cowrie
    (c) Credit card
    (d) Stone tool
    Ans: (d)
27. Which ancient text mentions paṇas and salaries?
    (a) Rigveda
    (b) Arthaśhāstra
    (c) Mahabharata
    (d) Ramayana
    Ans: (b)
28. Coins helped increase:
    (a) Forest area
    (b) Water storage
    (c) Maritime trade
    (d) War
    Ans: (c)
29. Coins of Chalukyas showed which deity?
    (a) Shiva
    (b) Ganesha
    (c) Varaha (Vishnu)
    (d) Rama
    Ans: (c)
30. What is a major benefit of UPI payments?
    (a) Needs coins
    (b) Needs stamps
    (c) No physical cash required
    (d) Requires ATM only
    Ans: (c)
31. What problem was solved by using money instead of wheat?
    (a) Portability
    (b) Quality
    (c) Weight
    (d) Colour
    Ans: (a)
32. What is meant by “standard of deferred payment”?
    (a) Buying later on credit
    (b) Paying instantly
    (c) Free items
    (d) Getting loan
    Ans: (a)
33. What does RBI stand for?
    (a) Reserve Bank of India
    (b) Rural Banking Institution
    (c) Registered Bank of India
    (d) Rupee Bank of India
    Ans: (a)
34. The earliest paper currency in India came during:
    (a) British rule
    (b) Mughal era
    (c) Maurya Empire
    (d) Gupta period
    Ans: (a)
35. Coins with Roman king faces in India show:
    (a) No trade
    (b) Lack of design
    (c) Foreign trade existed
    (d) Romans ruled India
    Ans: (c)

True or False:

1. Barter requires a double coincidence of wants.
   True
2. Today, only cowrie shells are used for payments.
   False
3. The RBI controls the issue of Indian currency.
   True
4. Paper currency was first introduced in India by the Mughals.
   False
5. Money can store value and be used in the future.
   True

Fill in the Blanks:

1. The process of making coins is called -----------------------.
2. The  ---------------------------         issues paper currency in India.
3. ------------------ refers to the ability of money to last long without damage.
4. A ---------------- is used for UPI and digital transactions.
5. The symbol ₹ was officially adopted in ---------------.

Answer: 

1- minting,  2- Reserve Bank of India (RBI), 3- Durability, 4- QR code, 5- 2010

Assertion and Reasoning:

Choose:

(A) Both correct and R explains A;

(B) Both correct, R doesn’t explain A;

(C) A correct, R wrong;

(D) A wrong, R correct

1. A: Barter is difficult.
   R: It requires double coincidence of wants.
   Ans: (A)
2. A: Paper money replaced coins.
   R: Paper money is lighter and easier to carry.
   Ans: (A)
3. A: Cowrie shells were used as currency.
   R: They were colourful and rare.
   Ans: (B)
4. A: RBI prints all Indian currency.
   R: Because RBI is a private company.
   Ans: (C)
5. A: Coins increased foreign trade.
   R: Coins had images of Bollywood stars.
   Ans: (C)

Match the Following:

Column A	Column B
1. Cowrie Shells	(a) Making of coins
2. Varaha	(b) Ancient book on economy
3. Minting	(c) Early form of currency
4. QR Code	(d) UPI payment method
5. Arthaśhāstra	(e) Vishnu’s avatar on coins

Answers: 1→c, 2→e, 3→a, 4→d, 5→b

 *********************************