Three-Letter Words with PH Sound
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Questions and Answers

Select three letter words

  • Car (correct)
  • Bag (correct)
  • Sit (correct)
  • Dance

Choose words for PH sound

  • fish
  • Phone (correct)
  • focus
  • Photo (correct)

The barter system involves the exchange of money for goods and services.

False (B)

In a barter system, the value of goods is objective and easily determined.

<p>False (B)</p> Signup and view all the answers

The currency of India is the Indian ______.

<p>Rupee</p> Signup and view all the answers

The symbol for the Indian Rupee is ______.

<p>₹</p> Signup and view all the answers

The Indian Rupee is issued by the ______ Bank of India.

<p>Reserve</p> Signup and view all the answers

Different denominations of Indian Rupees exist, including banknotes and ______.

<p>coins</p> Signup and view all the answers

The Indian Rupee is ______ to other currencies in the international market.

<p>pegged</p> Signup and view all the answers

Flashcards

Barter System

Direct exchange of goods or services without using money.

Double Coincidence of Wants

Both parties in a transaction must want what each other offers.

Money

A universally accepted medium of exchange, store of value, and unit of account.

Medium of Exchange

Anything that is readily accepted by all in exchange for goods and services.

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Store of Value

Money's ability to hold its value over time.

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Unit of Account

A way to measure the value of goods and services.

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Barter Limitations

Difficulties arise from needing a double coincidence of wants, subjective values, and complex negotiations.

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Efficiency of Money

Money enables trades without requiring both parties to want each other's goods; vastly easier than bartering.

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Indian Rupee

The official currency of India.

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₹

The symbol for the Indian Rupee.

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Reserve Bank of India

The central bank of India responsible for issuing the Indian Rupee.

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Denominations

Different values of the Indian Rupee, such as banknotes and coins.

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Pegged currency

The value of the Indian Rupee is linked to other currencies in the international market.

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