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Eco Test

The document outlines an economics test with a total of 80 marks and a duration of 3 hours. It includes various questions categorized into three sections: 2-mark questions, 3-mark questions, and 5-mark questions, covering topics such as the functions of money, the barter system, and money supply. The test assesses students' understanding of key economic concepts related to money and its role in the economy.

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SAGAR MAHARANA
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15 views1 page

Eco Test

The document outlines an economics test with a total of 80 marks and a duration of 3 hours. It includes various questions categorized into three sections: 2-mark questions, 3-mark questions, and 5-mark questions, covering topics such as the functions of money, the barter system, and money supply. The test assesses students' understanding of key economic concepts related to money and its role in the economy.

Uploaded by

SAGAR MAHARANA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ECONOMICS test

FULL MARK-80

TIME: 3h

Questions of 2 marks each 2*6=12

1. Explain the significance of the 'Standard of Deferred Payment' function of money.


2. How does money overcome the main problem of exchange in the barter system? Explain.
3. Explain the 'medium of exchange' function of money.
4. Explain the 'store of value' function of money. How has it solved the related problem created by barter?
5. Explain the concept of money supply.
6. Define money supply and what are the components.
7. Explain any two functions of money.
8. Explain the concepts of Currency and coins with Public;
9. Explain the concepts of Demand deposits held by commercial banks.

Questions of 3 marks each 3*6=18

1. Explain the significance of 'medium of exchange' function of money.

2. Explain 'store of value' function of money.

3. Explain the evolution of money.

4. Why are 500 and 1,000 denominations of Bank Notes of the existing series issued by

Reserve Bank of India are no longer fiat money?

5. Define barter system of exchange. State any 3 shortcomings of barter system exchange.

6. Explain any one problem faced in the barter system. How has money solved this problem

7. Give meaning of money. State its different forms.

8. Explain the important forms of money.

9. Explain 'medium of exchange' function of money.

10. State M1,M2,M3,M4 measure of money supply.

Questions of 5 marks each 5*4=20

1. Define money supply. State and explain the different components of money supply.

2. Explain the functions of money.

3. "Money is what money does." Explain.

4. State the limitations (drawbacks) of barter system of exchange. How are these limitations removed with the
introduction of money?

5. How does RBI classify the supply of money?

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