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Chapter 11

Social Science Class 7

50 of 50 questions

50
Total Questions
16
Easy
27
Medium
7
Hard
Q1
easyBarter System
What was the earliest system of exchange before the invention of money?
A.Barter system
B.Digital payments
C.Bank transfer
D.Barter and banking system
Q2
easyBarter System
Which of these items was NOT commonly used as a medium of exchange in the barter system?
A.Cowrie shells
B.Stone Rai discs
C.Mobile phones
D.Salt
Q3
mediumProperties of Money
In the farmer’s story, what problem arises because the farmer cannot divide his ox into parts?
A.Double coincidence of wants
B.Divisibility
C.Portability
D.Durability
Q4
mediumBarter System
What does the term 'double coincidence of wants' mean?
A.Two people want the same good
B.One person wants two goods
C.Two people each have what the other wants
D.A good that can be divided into two
Q5
easyMoney and its Functions
Why did money come into existence?
A.To complicate trade
B.To replace all commodities
C.To overcome the limitations of barter
D.To reduce the value of goods
Q6
mediumProperties of Money
Which feature of money allows it to be carried from place to place easily?
A.Divisibility
B.Portability
C.Durability
D.Double coincidence
Q7
easyMoney and its Functions
Money acting as a store of value means:
A.It can be exchanged for different goods
B.It keeps its value over time
C.It has sentimental value
D.It can be split into parts
Q8
mediumMoney and its Functions
Which property of money is described by its ability to represent an agreed-upon worth for comparison?
A.Standard of deferred payment
B.Unit of account
C.Portability
D.Divisibility
Q9
mediumMoney and its Functions
Which function of money allows transactions to occur even when payment is delayed?
A.Medium of exchange
B.Store of value
C.Standard of deferred payment
D.Unit of account
Q10
easyEvolution of Money
On the timeline, what form of money appeared around 6000 BCE?
A.Coinage
B.Barter
C.Paper currency
D.Digital payments
Q11
mediumEvolution of Money
Which ancient form of money was used on Yap Island?
A.Cowrie shells
B.Stone Rai discs
C.Copper knives
D.Red feather coils
Q12
mediumCoinage
What were kārṣhāpaṇas or paṇas?
A.Paper notes
B.Metal coins
C.Digital tokens
D.Barter items
Q13
easyPaper Money
Which authority in India legally issues paper currency today?
A.State governments
B.Commercial banks
C.Reserve Bank of India
D.Ministry of Finance
Q14
mediumPaper Money
Why was paper currency introduced over coinage?
A.It’s more durable
B.It’s harder to counterfeit
C.It’s easier to carry and store in large amounts
D.It doesn’t wear out
Q15
easyDigital Money
What is UPI an example of?
A.Commodity money
B.Digital money
C.Barter item
D.Rare coin
Q16
mediumDigital Money
Which payment method uses QR codes?
A.Debit cards
B.UPI
C.Cash
D.Cowrie shells
Q17
hardCoinage
What alloy are modern coins in India largely made from?
A.Gold and silver
B.Copper and tin
C.Iron with chromium and silicon
D.Bronze
Q18
mediumEvolution of Money
Which ancient tribe’s copper chopping knife, Tajadero, served as money?
A.Aztecs
B.Solomon Islanders
C.Micronesians
D.Assamese
Q19
easyProperties of Money
Which term refers to money’s ability to be split into smaller units?
A.Portability
B.Divisibility
C.Durability
D.Coinage
Q20
mediumCoinage
Why was the ₹ symbol designed with two parallel lines?
A.To represent balance
B.To mimic the euro
C.To symbolize the national flag and equality
D.For aesthetic reasons only
Q21
easyMoney and its Functions
Which of these is NOT a basic function of money?
A.Medium of exchange
B.Store of value
C.Unit of account
D.Tool for production
Q22
mediumCoinage
Which ancient Indian coins bore symbols called rūpas?
A.Cowrie shells
B.Metal kārṣhāpaṇas
C.Paper notes
D.Red feather coils
Q23
mediumBarter System
What problem of barter does the need to find someone who both wants and offers the right goods illustrate?
A.Divisibility
B.Durability
C.Portability
D.Double coincidence of wants
Q24
mediumCoinage
How did coinage help maritime trade in ancient India?
A.By standardizing ground transport
B.By introducing paper notes
C.By providing universally recognized currency
D.By reducing the need for ports
Q25
hardPaper Money
Which modern security feature helps visually impaired persons identify currency notes?
A.Watermark
B.Raised printing
C.Serial numbers
D.Mint marks
Q26
easyDigital Money
Which statement best describes digital money?
A.It is printed on receipts
B.It exists only in electronic form
C.It is carved on stone tablets
D.It must be physical
Q27
mediumProperties of Money
Why would a farmer prefer money over wheat as a medium of exchange?
A.Wheat is lighter
B.Money can be stored longer without spoiling
C.Wheat has higher value
D.Money is perishable
Q28
easyProperties of Money
What does the term 'durability' refer to in the context of money?
A.Ability to be divided
B.Ability to last over time without damage
C.Ability to be carried
D.Ability to gain value
Q29
mediumActivities
Which chapter activity encourages students to collect old coins and analyze them?
A.Junbeel Mela exploration
B.Book exchange skit
C.Group project on coins
D.QR code demonstration
Q30
mediumBarter System
What cultural event still practices barter today in Assam?
A.Bihu festival
B.Junbeel Mela
C.Durga Puja
D.Diwali fair
Q31
easyTerminology
Which term describes products that can be traded, bought, and sold?
A.Commodities
B.Coins
C.Currency
D.Tokens
Q32
easyDigital Money
Which payment method directly transfers money from one bank account to another using smartphones?
A.Barter
B.Credit cards
C.UPI
D.Cash
Q33
hardCoinage
What is the significance of the Varaha motif on Chalukya coins?
A.It was decorative only
B.It represented an avatar of Vishnu
C.It signified weight
D.It marked the mint location
Q34
mediumProperties of Money
Which problem of barter does storing perishable goods illustrate?
A.Portability
B.Divisibility
C.Durability
D.Common measure
Q35
hardEvolution of Money
The transition from barter to coinage primarily addressed which two issues?
A.Portability and divisibility
B.Durability and double coincidence
C.Coin weight and color
D.Paper shortage and minting
Q36
easyTerminology
Which term refers to the process of producing coins?
A.Minting
B.Alloying
C.Bartering
D.Stamping
Q37
mediumCoinage
Why were alloy metals used in ancient coinage?
A.To reduce durability
B.To increase weight
C.To strengthen the coin
D.To change color only
Q38
mediumEvolution of Money
What evidence suggests India’s ancient maritime trade was strong?
A.Only Barter fairs
B.Roman coins found in Tamil Nadu
C.Decline of coin use
D.Use of paper money
Q39
easyDigital Money
Which of these is a modern intangible form of money?
A.Cowrie shells
B.UPI balance
C.Stone discs
D.Copper knives
Q40
mediumMoney and its Functions
Which activity helps students understand the concept of deferred payments?
A.Sketching coins
B.Paying later for a book worth ₹100 with ₹50 today
C.Barter with classmates
D.Colouring money notes
Q41
mediumBarter System
Which community fair still begins with Agni Puja before bartering?
A.Junbeel Mela
B.Holi festival
C.Diwali mela
D.Baisakhi fair
Q42
mediumProperties of Money
Which problem of barter does carrying heavy goods illustrate?
A.Durability
B.Divisibility
C.Portability
D.Common measure
Q43
mediumEvolution of Money
What type of money were Tevau feather coils?
A.Digital tokens
B.Barter shells
C.Traditional money
D.Paper notes
Q44
hardProperties of Money
Which of these was NOT an ancient problem solved by money?
A.Double coincidence of wants
B.Standardized measure of value
C.Unlimited resource availability
D.Divisibility
Q45
hardPaper Money
Which medium allowed Chinese traders to use paper money first?
A.Barter fairs
B.Reserve banks
C.Government decree
D.Private promissory notes
Q46
easyTerminology
Which term describes the face of a coin with the main design?
A.Obverse
B.Reverse
C.Rūpa
D.Mint
Q47
mediumCoinage
Who designed the Indian ₹ symbol adopted in 2010?
A.Reserve Bank of India
B.Udaya Kumar
C.Ministry of Finance
D.National Institute of Design
Q48
mediumCoinage
What did an anna represent under the Indian coinage system before 1947?
A.1/10 of a rupee
B.1/16 of a rupee
C.1/4 of a rupee
D.1/2 of a rupee
Q49
mediumBarter System
Which section asks students to describe how barter still exists today?
A.Basic Functions of Money
B.Don’t Miss Out
C.Let’s Explore
D.Noodles
Q50
hardActivities
Which chapter activity involves reading lines from the Arthashastra?
A.Coin collection project
B.Skit on cowrie shells
C.Analysis of ancient salaries and fines
D.Digital payment demonstration