Evolution of Money

What was the primary form of money used in the protohistoric period?

• Bank money

• Paper money

• Animal money

• Gold coins

What type of money came into existence due to the indivisible nature of animal money?

• Plastic money

• Paper money

• Metallic money

• Commodity money

Which of the following is NOT a type of metallic money?

• Grains

• Gold

• Silver

• Copper

What are standard or full-bodied coins made from?

• Cheaper metals

• Plastic

• Paper

• Precious metals

What is the intrinsic value of token coins compared to their face value?

• Equal

• Higher

• Lower

• None

What led to the introduction of paper money?

• Cultural changes

• Difficulties in transportation of token coins

• Government regulations

• Scarcity of metals

Who monopolized the issue of currency notes in the paper money system?

• Government

• Private banks

• Foreign banks

• Central Bank

What is bank money primarily composed of?

• Precious metals

• Physical cash

• Deposits saved by people

• Coins

What are cheques and demand drafts classified as?

• Actual money

• Credit instruments

• Plastic money

• Electronic money

What is plastic money primarily represented by?

• Debit and credit cards

• Animal money

• Coins

• Currency notes