One Mark Questions Answers

Social Science : Economics

MONEY AND CREDIT

I. Choose the correct answer

1. Certain metals like__________ (gold / iron) were used as a medium of exchange in ancient times.

Answer : gold

2. The Head Quarters of the RBI is at_________(Chennai / Mumbai).

Answer : Mumbai

3. International trade is carried on in terms of_______(US Dollars / Pounds).

Answer : US Dollars

4. The currency of Japan is______ (Yen / Yuan)

Answer : Yen

II. Fill in the blanks

1. Barter system can be considered as the first form of trade.

2. Money supply is divided into four types.

3. The first printing press of the RBI was started at Nasik.

4. The Reserve Bank of India acts as a regulator of the circulation of money.

5. The thesis about money by B.R.Ambedkar is The problem of the Rupee - Its origin and solution.

III. Match the following

1. US Dollar – a. Automatic Teller Machine

2. Currency in circulation – b. Substitute of money

3. ATM – c. Universally accepted currency

4. Salt – d. Saudi Arabia

5. Riyal – e. 85%

Answers

1. US Dollar – Universally accepted currency

2. Currency in circulation – 85%

3. ATM – Automatic Teller Machine

4. Salt – Substitute of money

5. Riyal – Saudi Arabia