MCQ Chapter 2 Money Economics Class 11 Maharashtra Board 1. What does the barter system involve?Exchange of services onlyExchange of goods for goodsUse of electronic moneyExchange of money for goodsQuestion 1 of 202. What was a key limitation of the barter system?Easy storage of goodsHigh portability of goodsDouble coincidence of wantsGeneral acceptability of goodsQuestion 2 of 203. Why was it hard to measure the value of goods in the barter system?Goods were too durableNo common unit of valueGoods were easily divisibleGoods were widely acceptedQuestion 3 of 204. Which goods were difficult to store in the barter system?Gold and silverStones and shellsMilk and vegetablesFeathers and grainsQuestion 4 of 205. What caused issues in dividing certain goods in the barter system?Their durabilityTheir portabilityTheir indivisibilityTheir homogeneityQuestion 5 of 206. What are deferred payments in the barter system?Payments made instantlyPayments using credit cardsPayments due in the futurePayments in servicesQuestion 6 of 207. How does Prof.Crowther define money?Anything that stores value onlyAnything divisible into smaller unitsAnything used as a medium of exchangeAnything durable and portableQuestion 7 of 208. What was used as money in the protohistoric period?Paper moneyAnimal moneyMetallic coinsCredit moneyQuestion 8 of 209. Which money replaced animal money due to its divisibility?Commodity moneyElectronic moneyPlastic moneyMetallic moneyQuestion 9 of 2010. Why was metallic money introduced after commodity money?Commodity money was too portableCommodity money was hard to storeCommodity money was highly durableCommodity money was widely acceptedQuestion 10 of 2011. Which metals were used in metallic money?Plastic and rubberCopper and nickelPaper and woodLeather and stoneQuestion 11 of 2012. What defines standard or full-bodied coins?Made of cheap metalsFace value less than intrinsic valueFace value equals intrinsic valueUsed for small transactionsQuestion 12 of 2013. What are token coins typically made of?Gold and silverPaper and plasticAluminum and nickelWood and leatherQuestion 13 of 2014. Who issues coins and one rupee notes in India?Reserve Bank of IndiaState GovernmentsCommercial BanksGovernment of IndiaQuestion 14 of 2015. What is another name for bank money?Paper moneyCredit moneyMetallic moneyPlastic moneyQuestion 15 of 2016. Which of the following is an example of plastic money?Currency notesCredit cardsChequesGold coinsQuestion 16 of 2017. What backs electronic money?Private companiesCommercial banksCentral BankLocal governmentsQuestion 17 of 2018. What is legal tender money?Money that can be refusedMoney backed by lawMoney used for small transactionsMoney not accepted by banksQuestion 18 of 2019. Which is an example of non-legal tender money?CoinsCurrency notesBills of exchangeOne rupee noteQuestion 19 of 2020. Which quality ensures money is widely accepted?DurabilityGeneral acceptabilityPortabilityDivisibilityQuestion 20 of 20 Loading...
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