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Questions and Answers
What is the barter system?
What is the barter system?
- A system where goods are directly exchanged without the use of currency (correct)
- A system where currency is used for all transactions
- A system where goods are exchanged through intermediaries
- A system where goods are exchanged using only metallic coins
What are modern forms of money?
What are modern forms of money?
- Deposits with banks
- Gold, silver, and copper coins
- Currencies and coins authorised by the Government (correct)
- Barter goods
What does the Reserve Bank of India (RBI) issue on behalf of the Government?
What does the Reserve Bank of India (RBI) issue on behalf of the Government?
- Currency notes (correct)
- Silver coins
- Gold coins
- Copper coins
What are demand deposits?
What are demand deposits?
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What is an important feature of the barter system?
What is an important feature of the barter system?
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