From Barter to Money — Practice Quiz

Cowrie shells, Salt, Cattle, Tea

Cowrie shells, salt, cattle, and tea were all used as commodities for exchange in the barter system. Credit cards are modern digital payment methods.

Lack of common standard measure of value, Problem of divisibility, Problem of portability, Problem of durability

The barter system had problems like no common value measure, difficulty dividing goods, carrying heavy items, and storing perishable goods. Easy storage was not a problem but rather the lack of it.

Medium of exchange, Store of value, Common standard measure of value, Standard of deferred payment

Money serves as a medium of exchange, can be stored for future use, provides a common measure of value, and allows deferred payments. It does not create confusion but rather simplifies trade.

Gold, Silver, Copper, Alloys of these metals

Ancient Indian coins were made from precious metals like gold, silver, copper, and their alloys. Plastic was not available in ancient times.