Evolution of Money and Barter System

The video explores the evolution of money from the barter system to digital payments. Initially, goods and services were exchanged directly, but this system had limitations. The discovery of metals led to the creation of coins, which became a standardized form of currency. In India, the rupee evolved through various historical periods. Today, digital payment methods are prevalent, marking a shift towards a cashless society.

What system was used for trade before the invention of money?

• Barter system

• Credit system

• Digital transactions

• Banking system

What is a key requirement for a successful barter exchange?

• Triple coincidence of wants

• Double coincidence of wants

• No coincidence of wants

• Single coincidence of wants

Why did the barter system face challenges?

• Excessive goods

• Difficulty in finding matching needs

• Lack of goods

• Too many sellers

What material was first used to make coins?

• Wood

• Plastic

• Metal

• Paper

Which metals were initially used for making coins?

• Lead and zinc

• Gold and silver

• Iron and copper

• Aluminum and tin

What was the name of the silver coin issued by King Sheisha Suri?

• Pound

• Rupiah

• Dinar

• Dollar

From which language is the word 'Rupiah' derived?

• Greek

• Arabic

• Latin

• Sanskrit

What significant change occurred in Indian currency after 1947?

• Use of barter system

• Adoption of the Euro

• Replacement of all autonomous state currencies with the Indian rupee

• Introduction of digital currency

What is a modern advancement in the evolution of money?

• Barter system

• Metal coins

• Paper notes

• Digital payment options

What is the trend in modern society regarding money transactions?

• Transitioning to a cashless society

• Moving towards a barter system

• Returning to metal coins

• Increasing use of cash