Question

Exercise
1.
Answer these questions-
(a) How was the life of human beings difficult in ancient time?
(b) What was used as a medium of exchange at first?
(c) Where do people keep the coins?
(d) Which types of coins are collected?
(e) Why do people prefer paper notes to coins?
(f) What is the use of plastic money?
2. Choose the correct option-​

Answer 1

Explanation:

1. They needed water from rivers, lakes and puddles from the rain. The other thing they needed to survive was tools and these species was among the first to make the transition to stone tool making which they used to hunt large animals.
2. ANSWER
3. Modern currency is accepted as a medium of exchange without any use of its own because:
4. 1) Modern currency is authorized by the government of a country.
5. 2) In India, the Reserve Bank of India issues all currency notes on behalf of central Government.
6. 3) No other individual or organization is allowed to issue currency.
7. 4) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions in India.
8. 5) No individual in India can legally refuse a payment made in Rupees.

Answer 2

Explanation:

fact, all over the world, instead of printing banknotes and coins, many cultures used the resources they had on hand to create their own localized currencies.

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10 Crazy Things That Have Actually Been Used As Currency

Salt. ...

Squirrel Pelts. ...

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Parmesan Cheese. ...

Cowry Shells. ...

Candy. ...

Potato Mashers. ...

Whale Teeth.