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Short Answer Type Questions
1. Write a short note on history of commerce in India.
2. Briefly discuss the concept of Indigenous Banking System.
3. 'Intermediaries played an important role in the promotion of trade'. Comment
4. Discuss the role and modes of 'Transport in the ancient times.
5. Write a short note on 'Merchant Corporations'.
6. List out the major items of exports and imports in the ancient India,
7. Discuss the position of Indian Subcontinent in the world economy.
3. Discuss the three types of economic activities.
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Answers
Answer:
2.Indigenous banking system is the system of banking that involves private firms or individuals who act as banks by providing financial services such as loans and accepting deposits. Indigenous banking system is made up of indigenous bankers who do not fall under the purview of the government.
3.Answer: The rise of intermediaries promote trade and commerce in several ways : As they are the direct link between the manufacturer and customers (producer and consumer , or buyer and seller ) . ... The rise of Intermediaries plays a vital role in promotion and growth of trade and commerce .
4.In ancient and medieval times elephants were used to transport men and materials on battlefields. ... Bullock carts, pulled by buffaloes and bullocks, are still the chief means of transport for goods in rural areas. The horse was another common form of transport in the past used for carrying people and goods
5.merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants.
6.The major exports in ancient India were spices, fine silks, muslin, spices, indigo, perfumes, iron, steel, medicinal herbs, sandalwood, pearls, ivory, and more. The major import items were wines, pigments, glass-vessels, expensive vessels of silver, horses, copper, silver, rubies and more.
7.Foremost among the nations of the region is India with a rapidly growing population of more than 1.2 billion and an economy that ranks as the world's 10th largest in terms of GDP.
Explanation:
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