Earlier Forms of Money

Q. Why was commodity money replaced by metallic money?

1. It was easier to carry.
2. It looked attractive.
3. It had a longer life.
4. It was usually light.

Q.

What does the Bill of exchange mean in one sentence?

Q. In the late 1920s, people travelling to distant lands could easily pay later, and they did not have to carry coins with them.

Which of the following were issued by governments as written documents that were used to facilitate long distance transactions?

1. Colossal documents
2. Bills
3. Receipts
4. Promissory notes

Q. Which of the following is/are the primary function(s) of commodity money?

1. medium of exchange
2. medium of communication
3. measure of value
4. measure of volume

Q. Pair the commodity money with the people who used them.

1. Sheep
2. Romans
3. Cattle
4. Greeks
5. Teeth
6. Chinese

Q. Where did traders deposit their money to safeguard it from robbers?

1. With kings
2. With soldiers
3. With financiers
4. With sailors