Reviewing the Class 7 SST MCQ and Class 7 Social Science Chapter 11 From Barter to Money MCQ Questions Online Test with Answers before exams can boost your confidence.
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 barter system?
(a) Exchange of goods and services using money
(b) Direct trade of goods and services without money
(c) Digital payment system
(d) Use of paper currency for traded
Answer:
(b) Direct trade of goods and services without money
Question 2.
Which of the following was not commonly used in the barter system?
(a) Cowrie shells
(b) Salt
(c) Plastic tokens
(d) Cow
Answer:
(c) Plastic tokens
Question 3.
The main problem with the barter system is
(a) lack of physical goods
(b) double coincidence of wants
(c) overproduction of goods
(d) lack of trade routes
Answer:
(b) double coincidence of wants
Question 4.
What is meant by double coincidence of wants?
(a) People need to find someone who wants exactly what they offer
(b) Having two types of currency at the same time
(c) Using the same item twice for trade
(d) Finding a person who refuses barter exchange
Answer:
(a) People need to find someone who wants exactly what they offer
Question 5.
Name the organisation which is responsible for printing money.
(a) Reserve Bank of India
(b) Government of India
(c) Ministry of Finance
(d) Local business
Answer:
(a) Reserve Bank of India
Question 6.
Name the ancient Indian dynasty which issued coins with the Varaha (boar) symbol?
(a) Gupta
(b) Chalukya
(c) Pandya
(d) Maurya
Answer:
(b) Chalukya
Question 7.
The Indian district that hosts the Junbeel Mela, where barter is still practiced
(a) Morigaon
(b) Darjeling
(c) Rameshwaram
(d) Ajmer
Answer:
(a) Morigaon
Question 8.
The full form of UPI
(a) Unified Payment Interface
(b) Unique payment interface
(c) Unified payment internal
(d) Unilateral payment interface
Answer:
(a) Unified Payment Interface
Question 9.
Which of the following money was used in Yap Island in pacific ocean?
(a) Gold coins
(b) Rai stones
(c) Silver coins
(d) Copper knives
Answer:
(b) Rai stones
Question 10.
What does the Indian Rupee symbol ? represent?
(a) Combination of Devanagari ‘Ra’ and Roman ‘R’
(b) Symbol for gold coins
(c) Ancient Sanskrit currency notation
(d) Representation of barter system
Answer:
(a) Combination of Devanagari ‘Ra’ and Roman ‘R’
From Barter to Money Class 7 Assertion-Reason Type Questions
Question 1.
Assertion (A) The barter system required a double coincidence of wants.
Reason (R) Both parties had to want exactly what the other was offering for exchange.
Codes
(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 true, but R is false
(d) A is false, but R is true
Answer:
(a) Both A and R are true, and R is the correct explanation of A.
Question 2.
Assertion (A) Ancient Indian coins were primarily made of gold and silver.
Reason (R) Metal was scarce in ancient times, so alternative materials were used for currency.
Codes
(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 true, but R is false
(d) A is false, but R is true
Answer:
(c) A is true, but R is false
From Barter to Money Class 7 Fill in the blanks
Question 1.
The barter system is a way of exchanging ____ and ____ without using money.
Answer:
Goods and services
Question 2.
One of the biggest challenges of the barter system was the lack of a ____ standard measure of value.
Answer:
Common
Question 3.
____ was introduced as a medium of exchange to overcome the difficulties of the barter system.
Answer:
Money
Question 4.
In ancient India, coins were called ____.
Answer:
Karshpana
Question 5.
One example of barter that still exists in India today is the ____.
Answer:
Junbeel mela
Question 6.
____ is a digital payment method where people can scan a code using their phones to make a transaction.
Answer:
QR
Question 7.
The ____ is responsible for the printing and circulation of currency in India today.
Answer:
RBI
From Barter to Money Class 7 True or False
Question 1.
The barter system was a method of exchange that involved the use of money.
Answer:
False
Question 2.
Cowrie shells were once used as a form of currency in ancient times.
Answer:
True
Question 3.
Double coincidence of wants was a major problem in the barter system.
Answer:
True
Question 4.
The barter system was highly efficient and did not have any limitations.
Answer:
False
Question 5.
Ancient Indian coins were primarily made of plastic.. and paper.
Answer:
False
Question 6.
Jaintia is a tribal community in Assam.
Answer:
False
Question 7.
QR codes are used to scan physical paper notes for authentication.
Answer:
False
Question 8.
The barter system is still practiced in some parts of India, such as the Junbeel Mela.
Answer:
True
From Barter to Money Class 7 Match the following
Question 1.
| List I (Term) | List II (Definition) |
| A. Barter system | 1. The sole authority for printing paper currency in India |
| B. Pana | 2. Unit of currency mentioned in Arthashastra |
| C. Reserve Bank of India | 3. When two people have something the other wants and can exchange them coincidence of wants |
| D. Double | 4. A system of exchange where goods and services are traded without money |
Codes
(a) A-1, B-2, C-3, D-4
(b) A-3, B-4, C-2, D-1
(c) A-4, B-2, C-1, D-3
(d) A-1, B-4, C-3, D-2
Answer:
| List I (Term) | List II (Definition) |
| A. Barter system | 4. A system of exchange where goods and services are traded without money |
| B. Pana | 2. Unit of currency mentioned in Arthashastra |
| C. Reserve Bank of India | 1. The sole authority for printing paper currency in India |
| D. Double | 3. When two people have something the other wants and can exchange them coincidence of wants |
Picture Based Questions
Question 1.
Identify the following object used as money in ancient times.
(a) Rai stone
(b) Gold coin
(c) Paper currency
(d) Plastic currency
Answer:
(a) Rai stone
Case Based Questions
Question 1.
Read the passage given below and answer the questions that follow.
Although money has replaced traditional barter systems all around the world, there are some that still exist today! One of them is the Junbeel Mela Gun means moon in Assamese and beel means wetland), a three day annual socio-cultural fair at Junbeel in Morigaon district of Assam. Interestingly, the mela begins with the Agni Puja or worship of fire, a prayer for universal wellbeing.
Beginning in the 15th century, the chiefs of the Tiwa, Karbi, Khasi and Jaintia tribal communities of Assam and Meghalaya would gather every year to discuss political issues and to maintain friendly relationships. Members of these communities began to gather around this event and soon it turned into a fair, where people would bring their produce and began exchanging them among each other.
(i) Which of the following best illustrates the continued cultural significance of the Junbeel Mela in today’s world?
(a) It is now held entirely online
(b) It has been converted into a modern market with money transactions
(c) It still practices the barter system and fire worship
(d) It no longer includes tribal participation
Answer:
(c) It still practices the barter system and fire worship
(ii) Riya read about a fair where people still exchange goods instead of using money. Which fair is she reading about?
(a) Diwali Mela
(b) Trade Fair in Delhi
(c) Junbeel Mela in Assam
(d) Republic Day Fair
Answer:
(c) Junbeel Mela in Assam