Money System and Savings

Q. Why is the concept of money better than barter?

1. Money evaluates every commodity and service with a convincing value.
   
2. A person who doesn't want anything in exchange will also be ready to work for someone for money.
   
3. Money is a durable thing and lasts many years, even if kept unused.
   
   
4. Money makes the economy grow faster.
   

Q.

Why do people need to get more income?

Q. Which among the following is not an example of consumer goods?

1. Rice
2. Cloths
3. Iron Ore
4. Bicycle

Q. The amount from the income which is left for future needs after consumption is called ________.

1. loan
2. interest
3. saving
4. deposit

Q. Which of the following is an example of saving?

1. Dinesh bargained and got a 500 rupees shirt for 400 rupees.
   
   
2. Ajay told the shopkeeper that he requires a curd packet and he will pay for it in the coming days.
3. Shardul's mother stopped him from taking two chocolates, thereby saving money.
4. Tina spends all her money shopping for herself.
   

Q. ------------ is considered as a tool for fair exchange of goods.

1. Savings
2. Services
3. Money
4. Goods

Q. When you spend more money than your income, you will be in debt.

1. True
2. False

Q. Name the consumer goods among the following.

1. Iron ore
2. coal
3. Tooth paste
4. Cocoa bean

Q. The part of income not spent is called _____.

1. consumption
2. investment
3. saving
4. capital

Q. 'Disposal income' refers to income that can be ____

1. Saved for future use
2. Denoted
3. Spared from immediate expenditure
4. Given away

Q. The amount from the earnings which is left for future needs after consumption is called a 'Saving.'

1. False
2. True