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Question (11)

QN0031218

A person stores ₹5,000 safely in a locker and uses it after six months. Which function of money is demonstrated?

(A) Medium of exchange
(B) Store of value
(C) Common denomination
(D) Portability

Correct Answer: B

Explanation:

Money can be saved and used in the future. Hence, it acts as a store of value.

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Question (12)

QN0031219

Which sequence correctly represents the evolution of money in India?

(A) Paper money → Barter → UPI → Coins
(B) Barter → Coinage → Paper money → Digital money
(C) Coinage → Barter → Paper money → UPI
(D) Cowrie → UPI → Coinage → Paper money

Correct Answer: B

Explanation:

Money evolved from barter to coins, then paper currency, and finally digital forms.

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Question (13)

QN0031220

Ravi wants to buy a book costing ₹120 but has only ₹80. His friend lends him ₹40, which Ravi promises to return next month. This situation best shows:

(A) Store of value
(B) Deferred payment
(C) Durability
(D) Portability

Correct Answer: B

Explanation:

Since the borrowed amount will be repaid later, this is an example of deferred payment.

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Question (14)

QN0031221

Which authority legally controls the issue of paper currency in India?

(A) State Bank of India
(B) Ministry of Finance
(C) Reserve Bank of India
(D) Parliament of India

Correct Answer: C

Explanation:

The Reserve Bank of India is the only legal authority for issuing paper currency in India.

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Question (15)

QN0031222

A vegetable seller receives payments through QR codes directly into his bank account. This is an example of:

(A) Commodity money
(B) Metallic money
(C) Digital money
(D) Barter system

Correct Answer: C

Explanation:

QR code payments transfer money electronically, making them a form of digital money.

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Question (16)

QN0031223

Three traders exchange goods through barter. Trader A spends 2 hours finding a partner, Trader B spends 3 hours, and Trader C spends 4 hours. How much total time is spent in searching?

(A) 7 hours
(B) 8 hours
(C) 9 hours
(D) 10 hours

Correct Answer: C

Explanation:

Total time spent = 2 + 3 + 4 = 9 hours.

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Question (17)

QN0031224

Why were coins of powerful rulers accepted in many kingdoms?

(A) They were made only of gold
(B) They facilitated trade across regions
(C) They were larger in size
(D) They had pictures of animals

Correct Answer: B

Explanation:

Coins of powerful rulers were widely accepted because they facilitated trade across different regions.

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Question (18)

QN0031225

A family exchanges old clothes for utensils. This practice is an example of:

(A) Digital transaction
(B) Deferred payment
(C) Modern barter
(D) Currency exchange

Correct Answer: C

Explanation:

In this case, goods are exchanged directly without using money, which is an example of modern barter.

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Question (19)

QN0031226

Which property of money helps compare the price of a bicycle costing ₹4,000 with a school bag costing ₹800?

(A) Portability
(B) Common denomination or measure of value
(C) Durability
(D) Divisibility

Correct Answer: B

Explanation:

Money provides a common measure of value, making it easy to compare prices.

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Question (20)

QN0031227

A farmer exchanges an ox for 50 bags of wheat. He uses 20 bags immediately, but the remaining bags get spoiled after some time. Which limitation of barter is illustrated?

(A) Double coincidence of wants
(B) Divisibility
(C) Durability
(D) Portability

Correct Answer: C

Explanation:

Wheat cannot be stored safely for a long period as it may rot or get damaged. This shows the problem of durability.

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Question (11)

A person stores ₹5,000 safely in a locker and uses it after six months. Which function of money is demonstrated?

Explanation:

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Question (12)

Which sequence correctly represents the evolution of money in India?

Explanation:

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Question (13)

Ravi wants to buy a book costing ₹120 but has only ₹80. His friend lends him ₹40, which Ravi promises to return next month. This situation best shows:

Explanation:

Link:

Question (14)

Which authority legally controls the issue of paper currency in India?

Explanation:

Link:

Question (15)

A vegetable seller receives payments through QR codes directly into his bank account. This is an example of:

Explanation:

Link:

Question (16)

Three traders exchange goods through barter. Trader A spends 2 hours finding a partner, Trader B spends 3 hours, and Trader C spends 4 hours. How much total time is spent in searching?

Explanation:

Link:

Question (17)

Why were coins of powerful rulers accepted in many kingdoms?

Explanation:

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Question (18)

A family exchanges old clothes for utensils. This practice is an example of:

Explanation:

Link:

Question (19)

Which property of money helps compare the price of a bicycle costing ₹4,000 with a school bag costing ₹800?

Explanation:

Link:

Question (20)

A farmer exchanges an ox for 50 bags of wheat. He uses 20 bags immediately, but the remaining bags get spoiled after some time. Which limitation of barter is illustrated?

Explanation:

Link:

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