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WorksheetsBarter Honey
Total questions: 10
Worksheet time: 8mins
In a barter system where goods are directly exchanged without the use of money, double coincidence of wants is an essential feature.
True
False
In India, _____________ issues currency notes on behalf of the Central Government.
Reserve Bank of India (RBI)
Ministry of Finance
Finance Commission
None of the above
The difference between what is charged from borrowers and what is paid to depositors is the main source of banks income.
True
False
Which one of the following is a modern form of currency?
Paper notes
Gold
Silver
Copper
Name the system in which the double coincidence of wants is an essential feature.
Money economy
Global economy
Barter system
None of these
Which among these is an essential feature of barter system?
Money can easily exchange any commodity
It is based on double co-incidence of wants
It is generally accepted as a medium of exchange of goods with money
It acts as a measure and store of value
Which one of the following is not a modern form of money?
Demand Deposits
Paper currency
Coins
Precious metals
Money
eliminates double-coincidence of wants
acts as a common measure of value
acts as a standard of deferred payments
all the options
Read the dialogue between the two people:
Sita: I want 1kg of potatoes
Ram: What will you give me in exchange?
Sita: I can give you 2 litres of milk in return of my potatoes.
Ram: I don't need milk, but I want a pair of shoes.
Which of the following problem is being faced by Sita and Ram in their exchange process?
Lack of store of value.
Absence of common unit of value.
Lack of coincidence of wants.
Lack of standard of deferred payment.
People have the provision to withdraw money as and when they require. Since the deposits in the bank can be withdrawn on demand, these are called (a) .
