From Barter to Money Class 7 Short Question Answer

From Barter to Money Class 7 Short Question Answer

From Barter to Money Class 7 Short Question Answer

Question 1.

Discuss the problems faced by a farmer using the barter system.

Answer:

A farmer using the barter system would face problems such as finding someone who needs an ox, determining fair value for exchanges, and dealing with the lack of storage for perishable goods.

Question 2.

What are the advantages of using money over barter?

Answer:

The advantages of using money over barter include ease of transactions, ability to store value, standardisation of value, and convenience in making deferred payments.

Question 3.

Explain how digital money is changing the mode of transactions today.

Answer:

Digital money is changing the mode of transactions by allowing for quick, secure, and convenient payments through mobile devices, reducing the need for physical cash and enabling online commerce.

Question 4.

What were the importance of ancient Indian coins?

Answer:

Ancient Indian coins were made from precious metals, featured unique symbols and motifs, were issued by rulers, and facilitated trade across regions, enhancing economic interactions. These coins also help us understand the metallurgical skills, religion and belief, art and the influence of a ruler in the region.