FL TERM 1(Worksheet 1)

In barter system, money was used to buy things.

• True

• False

It was difficult to exchange big commodities under barter system

• True

• False

People used to exchange different goods or services in barter system.

• True

• False

The barter system works on double coincidence principle

• True

• False

I am going to Japan. Which currency will I be using there?

• Euro

• Yan

_______________ issues coins and notes on behalf of the government of India.

• RBI

• RPI

Who introduced a silver coin termed as the 'Rupiya'?

• Sher Shah Suri

• Babur

Basic necessities of life are

• Wants

• Need

Food, clothing and housing are _________

• Needs

• Wants

Things which make our life more comfortable and enjoyable are

• Needs

• Wants