From Barter to Money

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?

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.

How does digital money work, and how has it impacted modern transactions?

Why is money considered a standard of deferred payment?

Match the Following

(Match Column A with the correct option in Column B)

What was the first form of paper currency used in India?

Justify why digital payments are considered a safer alternative to carrying physical money.

What symbols were typically engraved on ancient Indian coins?

How does money address the issue of portability in trade?

What are the limitations of the barter system?

How did John Maynard Keynes describe the role of money?

What are some limitations of the barter system?

Explain the difference between the barter system and money.