From Barter to Money Class 7 MCQ Questions SST Chapter 11

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Class 7 From Barter to Money MCQ with Answers

MCQ on From Barter to Money Class 7

Class 7 SST Chapter 11 From Barter to Money MCQ Questions with Answers

Question 1.
What is the earliest form of exchange called?
(a) Banking system
(b) Credit system
(c) Barter system
(d) Coinage system
Answer:
(c) Barter system

Question 2.
Which of these is a problem of the barter system?
(a) Online payment
(b) Double coincidence of wants
(c) Easy portability
(d) Central authority
Answer:
(b) Double coincidence of wants

Question 3.
Where is the Junbeel Mela held?
(a) Rajasthan
(b) Assam
(c) Madhya Pradesh
(d) Jharkhand
Answer:
(b) Assam

Question 4.
Who issues currency in India today?
(a) Government of India
(b) Supreme Court
(c) Ministry of Finance
(d) Reserve Bank of India
Answer:
(d) Reserve Bank of India

Question 5.
What is “minting”?
(a) Printing of currency notes
(b) Manufacturing of coins
(c) Importing goods
(d) Recycling waste
Answer:
(b) Manufacturing of coins

Question 6.
In the Junbeel Mela, what system of exchange is followed?
(a) Digital payment
(b) Barter system
(c) Coinage
(d) Banking
Answer:
(b) Barter system

Question 7.
The symbol? of the rupee was introduced in which year?
(a) 2005
(b) 2010
(c) 2015
(d) 2020
Answer:
(b) 2010

Question 8.
What are cowrie shells an example of?
(a) Coinage
(b) Paper currency
(c) Commodity money
(d) Digital currency
Answer:
(c) Commodity money

Question 9.
Consider the following statement:
(i) The barter system used metallic money
(ii) 1 anna was equal to 1/16 of a ruppee
(iii) Roman gold coins have been excavated in Pudukottai.
Answer:

Which of the above statements are incorrect?
(a) (i) only
(b) (ii) only
(c) (iii) only
(d) (i) and (ii)
Answer:
(a) (i) only

Question 10.
Which of the following is the correct statement?
(a) Coinage is a modem form of money.
(b) Coinage was introduced in the 20th century.
(c) Minting is done by common citizens.
(d) Coins are made from precious metals.
Answer:
(a) Coinage is a modem form of money.

From Barter to Money Class 7 Assertion-Reason Type Questions

There are two statements in each question marked as Assertion (A) and Reason (R). Choose your answer as per the options given below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(c) (A) is correct but (R) is wrong.
(d) (A) is wrong but (R) is correct.

1. Assertion (A): The barter system is still in use today.
Reason (R): It is efficient and works better than currency.
Answer:
(c) (A) is correct but (R) is wrong.

2. Assertion (A): The Reserve Bank of India controls currency issuance.
Reason (R): A central authority helps maintain the value and trust in money.
Answer:
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).

3. Assertion (A): Money is a medium of exchange.
Reason (R): It allows buying and selling without direct product exchange.
Answer:
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).

4. Assertion (A): Coinage replaced paper money due to durability.
Reason (R): Paper notes tear easily.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).

5. Assertion (A): Money can be stored for future use.
Reason (R): It acts as a store of value.
Answer:
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).

6. Assertion (A): Double coincidence of wants was a problem in barter.
Reason (R): Both parties needed to want what the other had.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).

7. Assertion (A): The use of coins boosted maritime trade in India.
Reason (R): Coins were accepted across regions and helped easy transactions.
Answer:
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).

From Barter to Money Class 7 Fill in the blanks

1. Money acts as a _______ of value.
Answer:
store

2. In the barter system, there is no common _______ of value.
Answer:
standard

3. The barter system required a double _______ of wants.
Answer:
coincidence

4. Paper currency was introduced in India in the _______ century.
Answer:
18th

5. The word ‘rupa’ was used for coins and is the root of the modem word _______.
Answer:
rupee

From Barter to Money Class 7 True or False

1. In Junbeel Mela, the barter system is still used.
Answer:
True

2. Paper money was first used in India before China.
Answer:
False

3. Alloy means combining two or more metals, makes the coin strong.
Answer:
True

4. The Reserve Bank of India is the only institution allowed to issue currency in India.
Answer:
True

5. The coinage system came before the barter system.
Answer:
False

6. Divisibility is one of the issues with the barter system.
Answer:
True

7. Money helps in deferred payments.
Answer:
True

8. The rupee symbol ? is based only on the Roman script.
Answer:
False

From Barter to Money Class 7 Match the Following

Answer:

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