{"id":13904,"date":"2022-01-20T12:53:05","date_gmt":"2022-01-20T07:23:05","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=13904"},"modified":"2024-12-27T13:10:48","modified_gmt":"2024-12-27T07:40:48","slug":"11th-economics-chapter-2-exercise","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/","title":{"rendered":"11th Economics Chapter 2 Exercise Answers (Money) Maharashtra Board &#8211; Free Solution"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e1501519b00\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e1501519b00\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#11th_Economics_Chapter_2_Exercise\" >11th Economics Chapter 2 Exercise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Chapter_2_%E2%80%93_Money\" >Chapter 2 &#8211; Money<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q_1_Complete_the_correlation\" >Q. 1. Complete the correlation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q_2_Give_economic_terms\" >Q. 2. Give economic terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q_3_Choose_the_correct_option\" >Q. 3. Choose the correct option<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q_4_Identify_and_explain_the_concepts_from_the_given_illustrations\" >Q. 4. Identify and explain the concepts from the given illustrations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q5_State_with_reasons_whether_you_agree_or_disagree_with_the_following_statements\" >Q.5. State with reasons whether you agree or disagree with the following statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Q6_Answer_the_following_questions_on_the_basis_of_the_following_information\" >Q.6. Answer the following questions on the basis of the following information.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Extra_Questions\" >Extra Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#11th_Economics_Textbook_Solutions\" >11th Economics Textbook Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/#Check_out_other_posts_related_to_11th_Commerce\" >Check out other posts related to 11th Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_Economics_Chapter_2_Exercise\"><\/span>11th Economics Chapter 2 Exercise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-1024x576.jpg\" alt=\"11th Economics Chapter 2 Exercise\nMoney\" class=\"wp-image-14050 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise-640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/01\/11th-Economics-Chapter-2-Exercise.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">11th Economics Chapter 2 Exercise<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_2_%E2%80%93_Money\"><\/span><strong>Chapter 2 &#8211; <\/strong>Money<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_1_Complete_the_correlation\"><\/span>Q. 1. Complete the correlation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Primary function of money : Medium of exchange : : <strong><span style=\"text-decoration: underline;\">Secondary function of money<\/span><\/strong> : Transfer of value<br>2) <strong><span style=\"text-decoration: underline;\">Contingent Functions of money<\/span><\/strong> : Basis of credit : : Secondary function of money : standard of deferred payments.<br>3) Commodity money : Shells : : <strong><span style=\"text-decoration: underline;\">Plastic money<\/span><\/strong> : Credit Card<br>4) Divisibility : Smaller denomination : : <strong><span style=\"text-decoration: underline;\">Portability<\/span><\/strong> : Easy to carry from one place to another.<br>5) Barter system : Goods : : Modern economy : <strong><span style=\"text-decoration: underline;\">Money<\/span><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_2_Give_economic_terms\"><\/span>Q. 2. Give economic terms<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) The act of exchanging goods for goods &#8211; <strong><span style=\"text-decoration: underline;\">Barter System<\/span><\/strong><br>2) Provision for making payments in future &#8211; <strong><span style=\"text-decoration: underline;\">Deferred payment<\/span><\/strong><br>3) System that makes use of currency for facilitating payments &#8211; <strong><span style=\"text-decoration: underline;\">Digital system<\/span><\/strong><br>4) Credit instrument through which bank deposits are transferable &#8211; <strong><span style=\"text-decoration: underline;\">Cheque\/Demand Draft<\/span><\/strong><br>5) Monetary value stored and transferred electronically by means of computer hard drive or servers &#8211; <strong><span style=\"text-decoration: underline;\">E-money<\/span><\/strong><br>6) Money not accounted for in the bank and not disclosed to the government &#8211; <strong><span style=\"text-decoration: underline;\">Black money<\/span><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_3_Choose_the_correct_option\"><\/span>Q. 3. Choose the correct option<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) Arrange in the order of evolution of money.<\/strong><br>a) Metallic money<br>b) Animal money<br>c) Metallic coins<br>d) Commodity money<br><strong>Option: <br><\/strong>1) a, b, c, d <br><strong><span class=\"has-inline-color has-vivid-purple-color\">2) b, d, a, c<\/span><\/strong><br>3) d, c, a, b <br>4) c, a, b, d<\/p>\n\n\n\n<p><strong>2) Arrange in the order of evolution of money.<br><\/strong>a) Plastic money<br>b) Paper money<br>c) Electronic money<br>d) Credit money<br><strong>Option: <br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">1) b, d, a, c <br><\/mark><\/strong>2) a, b, c, d<br>3) d, c, b, a <br>4) c, b, a, d<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Solution of other subjects<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">3<\/a><strong> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_4_Identify_and_explain_the_concepts_from_the_given_illustrations\"><\/span>Q. 4. Identify and explain the concepts from the given illustrations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) Vasantsheth provides coal from his shop to farmers in exchange for foodgrains.<br><\/span>Concept:<\/strong> <strong>Barter system<br>Explanation:<\/strong> It refers to an exchange of goods for goods.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">2) Babanrao deposits his money in a nationalized bank.<br><\/span>Concept: Bank Money<br>Explanation:<\/strong> Bank money refers to deposits that are in the form of cash saved by the people. It is used to create credit money.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">3) Charu used her debit card to purchase a shirt for her younger brother.<br><\/span>Concept: Plastic Money<br>Explanation:<\/strong> Plastic Money is easy to use in transactions due to advanced technology. Debit cards and credit cards are used as plastic money.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">4) Malathi purchased a house through an agent. The agent accepted the commission amount in cash but did not issue a receipt to her.<br><\/span>Concept: Black Money<\/strong><br><strong>Explanation:<\/strong> Black Money is any money that is received in cash but not accounted for and on which tax is not paid to the government. Black Money is tax evaded income.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">5) To prevent misuse\/fraudulent use of the national currency, a note ban is imposed on its use at certain times.<br><\/span>Concept: Demonetization<br>Explanation:<\/strong> To control black money, demonetization is one of the tools, which many countries have adopted.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_State_with_reasons_whether_you_agree_or_disagree_with_the_following_statements\"><\/span>Q.5. State with reasons whether you agree or disagree with the following statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) There are no difficulties in barter system.<\/span><\/strong><\/p>\n\n\n\n<p><strong>Answer: <\/strong>No, I disagree with this statement.<strong><br>Reasons:<\/strong><br><strong>a) Problem of double coincidence of wants:<\/strong> Lack of double co-incidence of wants was one of the major limitations of the barter system.<br><strong>b) Lack of common measure of value:<\/strong> While exchanging goods for goods, there was no standard unit of account to determine the value of a commodity<br><strong>c) Problem in storage of goods:<\/strong> It is necessary to store goods for future consumption. Sometimes due to perishable nature of certain goods it was difficult to store them for future.<br><strong>d) Indivisibility of certain goods:<\/strong> In barter system it was inconvenient to divide animals, house etc. into small parts, so it was difficult to fix proportion of one commodity in exchange for another commodity.<br><strong>e) Problem of making deferred payments:<\/strong> Deferred payment means payments to be made in future. Repayment of loan was difficult due to exchange of commodities,<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>2) There are many good qualities found in modern currency.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer: <\/strong>Yes, I agree with this statement.<strong><br>Reasons:<\/strong><br><strong>a) General Acceptability:<\/strong> Anything that is used as money must be easily accepted by all for exchange purpose.<br><strong>2) Divisibility:<\/strong> Money should be easily divisible into smaller denominations to facilitate small transactions.<br><strong>3) Durability:<\/strong> Money should also possess the characteristic of durability. Currency notes and coins are being used repeatedly and shall continue to do so for years together on account of durability.<br><strong>4) Cognizability:<\/strong> Money must be easily recognised. It should have certain distinct marks so as to avoid confusion by the receiving person.<br><strong>5) Portability:<\/strong> It should be easy to carry from one place to another without any difficulty, expense and inconvenience, e.g. currency notes are easily portable.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>3) Many tasks are accomplished by money.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer: <\/strong>Yes, I agree with this statement.<strong><br>Reasons:<\/strong><br>a) The most important function of money is to serve as a medium of exchange. Any commodity can be purchased or sold for money<br>b) Price is the value of a commodity or a service expressed in terms of money<br>c) Money acts as a store of value. Money not only satisfies wants in the present but also makes provision for satisfaction of wants in future<br>d) Money enables the transfer of value from one person to another and from one place to another.<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>4) Money can be sent anywhere through electronic means. <\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer: <\/strong>Yes, I agree with this statement.<strong><br>Reasons:<\/strong><br>a) E-money or Electronic money is a monetary value that is stored and transferred electronically through a variety of means i.e. a mobile phone, tablet, smart cards, computer, etc.<br>b) It is backed by the Central Bank.<br>c) Electronic money is used for purchases and transactions globally.<br>d) Digital wallets are also a form of stored electronic money.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Solution of other subjects<br><\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-textbook-solutions-maharashtra-board\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">2<\/a>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">3<\/a><strong> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6_Answer_the_following_questions_on_the_basis_of_the_following_information\"><\/span>Q.6. Answer the following questions on the basis of the following information.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Ganesh travelled to the mall by bus. He gave the conductor Rs.10 coin for the ticket. He purchased many commodities from the mall. <br>At the billing counter, he gave his credit card for payment but the billing clerk informed him that only debit cards were accepted. Since Ganesh had forgotten his debit card at home, he offered to make payment by cash.<\/mark><\/p>\n\n\n\n<p><strong>1) Identify the types of money used in the information<\/strong>.<br><strong>Answer:<\/strong> a) Plastic money <br>b) Paper money <br>c) Token coin.<\/p>\n\n\n\n<p><strong>2) Explain any two of them.<\/strong><br><strong>Answer:<\/strong><br><strong>Paper money:<\/strong> Paper Money was a substitute for metallic money. In course of time, issue of currency notes was monopolized by the Central Bank. Paper money consists of paper currency issued by the Government and the Central Bank of the country.<br><br><strong>Plastic money:<\/strong> Plastic Money is easy to use in transactions due to advanced technology. Debit cards and credit cards are used as plastic money. Further innovation in smart transactions led to the introduction of electronic money.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Extra_Questions\"><\/span>Extra Questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) <strong>Explain the difficulties in the Barter System.<\/strong><\/strong><\/p>\n\n\n\n<p><strong>Answer:<\/strong><br><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"11th_Economics_Textbook_Solutions\"><\/span>11th Economics Textbook Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Solution Link<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Basic Concepts in Economics<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-1-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Money<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-2-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3) Partition Values<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-3-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) The Economy of Maharashtra<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-4-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Rural Development in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-5-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Population in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-6-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) Unemployment in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-7-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Poverty in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-8-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Economic Policy of India Since 1991<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-9-exercise\/\">Solution<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10) Economic Planning in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-economics-chapter-10-exercise\/\">Solution<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_11th_Commerce\"><\/span>Check out other posts related to 11th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Textbook Solutions of 11th Commerce (All Subjects)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\">Click <\/a><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-notes-maharashtra-board\/\" rel=\"noreferrer noopener\">Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong> Free pdf of 11th Commerce Textbooks <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/11th-commerce-books-pdf\/\">Click Here<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":14050,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[4451],"class_list":["post-13904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-11th-economics-chapter-2-exercise"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/13904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=13904"}],"version-history":[{"count":26,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/13904\/revisions"}],"predecessor-version":[{"id":35919,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/13904\/revisions\/35919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/14050"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=13904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=13904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=13904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}