Samacheer Kalvi 9th Social Science – Economics Unit 3 Book Back Answers:

Samacheer Kalvi 9th Standard New Social Science Book Back 1 Mark and 2 Mark Question & Answers PDF uploaded and available below. Class 9 New Syllabus 2021 to 2022 Book Back Question & Answer available for both English and Tamil Mediums. Class 9 Social Economics Book Unit 3 – Money and Credit Answers/Solutions are provided on this page. 9th Std Social Science History Book portion consists of 11 units, Geography Book portion consists of  8 units, Civics book portion consists of 6 units, and Economics book portion consists of 5 units, All Social Book Back One, and Two Mark Solutions are given below.

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Samacheer Kalvi 9th Social Science Book Back Solutions PDF:

9th Social Subject 1 Mark and 2 Mark Solutions PDF available below. Click the Download option to download the book back 1 Mark & 2 Mark questions and answers. Take the printout and use it for exam purposes. Samacheer Kalvi 9th Economics Unit 3 Answers are given below.

Economics Book Back Answers

Unit 3 – Money and Credit

I. Choose the correct answer.

1. Certain metals like ….. (gold/iron) were used as a medium of exchange in ancient times.
2. The Head Quarters of the RBI is at ….. (Chennai / Mumbai).
3. International trade is carried on in terms of …… (US Dollars / Pounds).
4. The currency of Japan is ……. (Yen/Yuan)
Answers:
1. gold
2. Mumbai
3. US Dollars
4. Yen

II. Fill in the blanks.

1. …… System can be considered as the first form of trade.
2. Money supply is divided into ……
3. The first printing press of the RBI was started at ………
4. …… act as a regulator of the circulation of money.
5. The thesis about money by B.R. Ambedkar is ……..
Answers:
1. Barter
2. four
3. Nasik, Maharashtra
4. The Reserve Bank of India
5. The Problem of the Rupee

III. Match the following:

Answers:
1. (c): 2. (e): 3. (a): 4. (b): 5. (d)

IV. Give short answers.

1. Why was money invented?
Answer:

1. If there were no money, we would be reduced to a barter economy.
2. In the market we don’t barter for individual goods.
3. Instead we exchange for goods (or) services for a common medium of exchange that is money.

2. What is ancient money?
Answer:

1. Measuring the quantity and value of the goods exchanged were found very difficult. To solve these issues they fixed a common item with a standard value for the effective exchange of goods.
2. Gold, silver and copper were called ancient money.

3. What were the items used as barter during olden days?
Answer:
Leather beads, shells, tobacco, salt, com and even slaves were the items used as barter during olden days.

4. What is spice route? Why was it called so?
Answer:

1. Pepper, spices, pearls, gems, rubies and muslin clothes were exported from the eastern sea of TamilNadu.
2. Pepper and spices took a major share of the exports. Hence this route was called the spice route.

5. What is natural money?
Answer:
The metals such as silver and gold gained importance gradually all over the world. So, these metals were used as standard value in the exchange of goods. This was called as natural money.

6. Why were coins of low value printed in large quantities?
Answer:

1. Mines had a limited reserve of the metals.
2. An alternative was found and coins were made using metals with lesser value.
3. These were used to buy and sell goods of lesser value.
4. It was used as the money of the poor people,

Hence the coins of low value were printed in large quantities.

7. What is meant by foreign exchange?
Answer:

1. It is the conversion of one country’s currency into another. A country’s currency value may also be set by the country’s government.
2. It is a system of trading in and converting the currency of one country into that of another.

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