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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?
How did the introduction of coins improve trade compared to earlier forms of money?
Why is money considered a better medium of exchange compared to barter?
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 |
How does the barter system take place and what kinds of commodities were used for exchange under the system?
What was the first form of paper currency used in India?
Explain the socio-cultural significance of the Junbeel Mela.
Why is money considered a standard of deferred payment?
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 digital money work, and how has it impacted modern transactions?
How did John Maynard Keynes describe the role of money?
What are the limitations of the barter system?
Justify why digital payments are considered a safer alternative to carrying physical money.
What are some limitations of the barter system?
Explain the difference between the barter system and money.
What symbols were typically engraved on ancient Indian coins?
Analyze the problems of the barter system that necessitated the invention of money.