Skip to main content
Super TutorResources
Chapter 7 of 10
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Syllabus

Meaning and Functions of Money

ICSE · Class 10 · Economic Application

Complete topic list for Meaning and Functions of Money in ICSE Class 10 Economic Application. Key concepts, sub-topics, and what to focus on for board exams.

60 questions40 flashcards5 concepts

Interactive on Super Tutor

Studying Meaning and Functions of Money? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for syllabus and more.

Try Super Tutor — Free

1,000+ Class 10 students started this chapter today

4 Topics · ICSE Class 10 Economic Application

Topics in Meaning and Functions of Money

1

Barter System and Its Difficulties

  • Barter system means direct exchange of goods for goods or services for services.
  • The barter economy is also called C-C economy, where C stands for commodity.
  • Double coincidence of wants means the simultaneous fulfilment of mutual wants by buyers and sellers.
2

Evolution of Money

  • Money has evolved through five stages: animal money, commodity money, metallic money, paper money, and bank money.
  • Animal money was used in the earliest stage of human civilisation.
  • In ancient India, Go-Dhan or cow wealth was accepted as a form of money according to Arthaveda.
3

Meaning and Definitions of Money

  • Money is a thing which is commonly accepted as a medium of exchange.
  • Money is any good that is widely used and accepted in making transactions.
  • The word money comes from Moneta, the surname of the Roman Goddess Juno.
4

Forms of Money

  • Full bodied money is money whose value as a commodity is equal to its value as money.
  • A rupee coin during the British period in India was an example of full bodied money.
  • Fiat money is government issued currency which has no intrinsic value.

Key Concepts

Central concept: Money as a commonly accepted medium that solves the difficulties of barter and supports exchange, value measurement, saving, payments, and economic decisions

Barter SystemDifficulties of BarterEvolution of MoneyMeaning and Definitions of MoneyForms of MoneyFeatures of MoneyFunctions of Money

Frequently Asked Questions

What are the important topics in Meaning and Functions of Money for ICSE Class 10 Economic Application?
Meaning and Functions of Money covers several key topics that are frequently asked in ICSE Class 10 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Meaning and Functions of Money — ICSE Class 10 Economic Application?
Understand the core concepts first, then work through the 60 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Meaning and Functions of Money

All 10 chapters — ICSE Class 10 Economic Application Syllabus

For serious students

Get the full Meaning and Functions of Money chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 10 Economic Application.

Try Super Tutor Free
Try the full chapter — Free