CBSE Class 7 Social Science From Barter to Money (Class 7 NCERT New) Quiz 5

1. Vikram visits a museum and finds ancient Indian coins made from gold, silver and copper, stamped with royal symbols. The guide says these coins date back to the 6th century BCE. What were these coins most likely called?

A Rupees B Paise C Dinars D Karshapanas

2. Ms. Sharma tells her class that in India, it is illegal for any institution other than one specific body to print currency notes. Which institution is she referring to?

A State Bank of India B Ministry of Finance C Reserve Bank of India D NITI Aayog

3. Kavya reads that a symbol was adopted by India in 2010, designed by a professor from IIT Guwahati. It combines the Devanagari script and the Roman alphabet. Which symbol is this?

A $ B £ C ₹ D €

4. Paper currency was first introduced in which country and in which century?

A India, 18th century B Egypt, 6th century BCE C England, 15th century D China, 11th century

5. Omar is a shoemaker who wants rice. He finds rice farmer Leela. But Leela already has plenty of shoes and wants only cloth. Omar has no cloth. What will happen?

A They will still trade because Omar needs rice badly B They will trade half the rice for half the shoes C No trade — this is the core problem of the barter system D Omar will borrow rice and return shoes later

6. A fruit seller in ancient times wanted to save his earnings for the winter. He couldn't — his mangoes rotted within days. Which function of money would have solved his problem completely?

A Medium of exchange B Unit of account C Store of value D Standard of deferred payment

7. Rohan's father drives an auto-rickshaw. He gets paid ₹150 by one passenger, uses ₹60 to fill fuel, and spends ₹90 on vegetables from a roadside vendor. In this entire chain, money is working mainly as a:

A Store of value B Unit of account C Medium of exchange D Standard of deferred payment

8. Deepa saves ₹5,000 every month in her bank account. After 12 months she uses her savings to buy a laptop worth ₹60,000. Which TWO functions of money made this possible?

A Unit of account + Medium of exchange B Store of value + Standard of deferred payment C Store of value + Medium of exchange D Unit of account + Store of value

9. Grandma Paro kept all her money in a clay pot buried under her kitchen floor. One monsoon, water seeped in and destroyed every note. Her neighbour Suresh kept the same amount in a bank and lost nothing. What lesson does Grandma Paro's story teach?

A Paper notes should be replaced with coins B Banks are not trustworthy places for money C Money should always be kept in clay pots D Money's function as a store of value only works if it is kept safely

10. Tribal communities in Morigaon, Assam hold an annual fair where they exchange goods without money — a tradition dating back to the 15th century. Student Neel says this proves money is unnecessary. What is the BEST response?

A Barter is banned in modern India B These communities are breaking the law C Barter works beautifully in small tight-knit communities but cannot support hospitals, airports, salaries or a national economy D The fair only continues as a tourist attraction now