Means of Exchange

Q. A farmer has 5 kg of rice and he sells it to a merchant. The merchant asks him to deliver the rice to his house, 10 km from the farm. Which of the following is/are exchanged here for money?

1. Money
2. Goods
3. Services
4. Goods and services

Q. A farmer has 5 kg of wheat and wants to sell it to a merchant and asks him to pay with a particular currency. What is being asked for in exchange for the grain?

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

Q. What were the kinds of "means of exchange" that existed back in the day?

1. Exchange of goods
2. Exchange of money
3. Exchange of services
4. Exhange of power

Q. Exchanging goods for goods is called?

1. Selling
2. Barter system
3. Buying
4. Loaning

Q. A ship "A" brings metals of different kinds into India, while another ship "B" takes spices across the sea to Bangkok. What are these trades between different countries called?

1. Exchange and barter respectively
2. Barter and exchange respectively
3. Export and import respectively
4. Import and export respectively

Q. Money existed in the form of metal coins in the olden times.

1. True
2. False