Class 12 Economics Money and Banking Important Questions


Class 12 Economics Money and Banking Important Questions

Very Short Answer Questions
( 2 marks) 
Question 1. What is a barter system of exchange? 
Question 2. Point out two shortcomings of the barter system of exchange. 
Question 3. Explain double coincidence of wants. 
Question 4. What is money?
 Question 5. What is meant by unlimited legal tender? 
Question 6. What is legal tender money? 
Question 7. What is Fiat money? 
 Short Answer Questions ( 3 marks ) 
Question 1. What are the different forms of modern money?
 Question 2. Distinguish between the two given terms: 
a) Currency and deposit money, 
b) Limited, and unlimited legal tender, 
c) Convertible and inconvertible money. 
Long Answer Questions (6 marks) 
Question - what is a barter system of exchange? Explain the difficulties which people experienced under the barter system

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