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What were the salient features of ancient Indian coins?
The RBI is the only legal source that prints and distributes paper currency in India. To prevent illegal printing of notes and their misuse, the RBI has introduced many security features. Find out what some of these measures are and discuss them in class.
What were the limitations of the barter system?
Why did money come into existence?
Why is money considered a better medium of exchange compared to barter?
How did the introduction of coins improve trade compared to earlier forms of money?
Read the following lines from the Arthashastra. "An annual salary of 60 paṇas could be substituted by an adhaka of grain per day, enough for four meals…" (One adhaka is equal to about 3 kg) What does this indicate about the value of one pana?
How does the barter system take place and what kinds of commodities were used for exchange under the system?
Explain the socio-cultural significance of the Junbeel Mela.
Why is money considered a standard of deferred payment?
How does digital money work, and how has it impacted modern transactions?
Justify why digital payments are considered a safer alternative to carrying physical money.
What was the first form of paper currency used in India?
Match the Following
(Match Column A with the correct option in Column B)
|
Column A |
Column B |
|
1. Double coincidence of wants |
(a) A form of money used in ancient India |
|
2. UPI |
(b) Money can be stored for future use |
|
3. Karshapanas |
(c) Two parties need exactly what the other wants |
|
4. Store of value |
(d) A system for transferring money digitally |
|
5. Barter system |
(e) The exchange of goods and service directly |
What symbols were typically engraved on ancient Indian coins?
How does money address the issue of portability in trade?
What are some limitations of the barter system?
What are the limitations of the barter system?
The fine for failing to help a neighbour was 100 panas. Compare this with the annual salary. What conclusion can you draw about the human values being encouraged through this?
How did John Maynard Keynes describe the role of money?