History of Currency and Trade

This video tutorial covers the ninth standard social science economics unit on money and credit. It includes exercises such as multiple choice questions, fill in the blanks, matching, and short answer questions. Detailed explanations are provided on topics like the role of the RBI, the barter system, and the functions of money. The video concludes with exercises on identifying correct statements and a summary of key points.

Which metal was commonly used as a medium of exchange in ancient times?

• Iron

• Gold

• Copper

• Silver

Where is the headquarters of the Reserve Bank of India located?

• Delhi

• Kolkata

• Mumbai

• Chennai

What is considered the first form of trade?

• Currency System

• Barter System

• Credit System

• Digital Transactions

Which institution regulates the circulation of money in India?

• NITI Aayog

• Reserve Bank of India

• Ministry of Finance

• State Bank of India

What is the universally accepted currency for international trade?

• Japanese Yen

• Euro

• British Pound

• U.S. Dollar

Which of the following was not used as a barter item in ancient times?

• Leather

• Beets

• Paper

• Salt

Why was the spice route named so?

• It was used for spice trade

• It was a government route

• It was a short route

• It was a safe route

What is the term for the conversion of one country's currency into another?

• Currency Exchange

• Foreign Exchange

• Trade Exchange

• Market Exchange

What is one of the functions of money?

• Medium of Exchange

• Source of Entertainment

• Tool for Negotiation

• Means of Communication

Which statement is true about the barter system?

• It was invented in the 20th century

• It requires digital transactions

• It is still widely used today

• It was the initial form of trade