Money is one of the most important inventions in human history. In Class 9 Economics, NCERT explains “Money – What it is” to help students understand how money evolved, its functions, and why it is essential in our daily lives.
Money What it is Class 9 NCERT Solutions
I. Choose the correct answer.
Q. The exchange of one commodity for another is called _.
a) Exchange system
b) Barter system
c) Symbolic value system
Q. Paper money was invented in _.
a) China
b) India
c) America
Q. Metal coins were invented by _.
a) Indians
b) Chinese
c) Lydians
Q. In ancient times metal coins were made of _.
a) Precious metals
b) Inexpensive metals
c) Leather
Q. Which of the following terms describes money?
a) Real value
b) Goods and services
c) Medium of exchange
II. Fill in the blanks.
Q. __ is a symbol that represents the value of goods and services.
Show Answer ⟶Q. __ was used as money in early societies in Europe.
Q. Ox-shaped bars of copper were used as money in the __.
Show Answer ⟶Q. People began exchanging items that had no real value but had only __ value.
Show Answer ⟶Q. The process of stamping of pictures on metals is known as __.
Show Answer ⟶Q. The first bank in Europe to issue printed money is __.
III. Match the following.
- Q. Norwegians: Butter
- Q. People of Paraguay: Snails
- Q. Symbolic currency used in America: Wampum
- Q. Ancient Egyptian currency: Precious Metal
- Q. Ancient Chinese coins: Bronze in the shape of tools and shells
IV. Crossword puzzle
Down:
- Q. The Chinese used this metal to make coins in earlier times: Bronze
- Q. Symbolic currency used earlier in America: Wampum
- Q. Paper currency was first used in this country: China.
Across (right to left):
- Q. The exchange of one commodity for another is known as: barter.
- Q. Symbol that represents goods and services: Currency
- Q. Cowrie shells are found on an island off the coast of this country: Maldives
- Q. Stamping pictures on metals: Minting
- Q. Crops used as money: Grains
VI. Answer in detail.
Q. Explain the evolution of money.
Answer: Money is a medium of exchange that helps people to meet their needs and wants. In early times various items could be purchased using salt in early Europe, the shekel in ancient Babylon, ox-shaped copper bars in the Bronze Age, and crops like tobacco, rice, wheat, indigo, and maize in the barter system in India.
Q. Explain the invention and usage of coins.
Answer: The first coins are made up of metal with special designs that show that they are used as money. The earliest coins were made in the Kingdom of Lydia (now it is a part of Turkey) in the 7th century B.C. These coins are lumps of metal, weighed to check their value and stamped with pictures to show their weight. Coins were first made in Lydia and spread to other places like Africa and Europe. The coins in the image were made in Greece around 600 B.C. Greek people were active traders across the Mediterranean Sea because of their trading. They use the coin in different other regions.
Disclaimer: We have taken an effort to provide you with the accurate handout of “Money What it is Class 9 NCERT Solutions“. If you feel that there is any error or mistake, please contact me at anuraganand2017@gmail.com. The above CBSE study material present on our websites is for education purpose, not our copyrights.
All the above content and Screenshot are taken from Introduction to Financial Markets Class 9 NCERT Textbook, CBSE Sample Paper, CBSE Old Sample Paper, CBSE Board Paper and CBSE Support Material which is present in CBSEACADEMIC website, NCERT websiteThis Textbook and Support Material are legally copyright by Central Board of Secondary Education. We are only providing a medium and helping the students to improve the performances in the examination.
Images and content shown above are the property of individual organizations and are used here for reference purposes only. For more information, refer to the official CBSE textbooks available at cbseacademic.nic.in