Barter system and money · वस्तु विनिमय और मुद्रा

Wheat for cloth? Why money replaced barter.

Barter system and money games

Goods exchanged for goods. Problems: double coincidence of wants, no common measure of value, goods spoil, cannot be divided.

Medium of exchange, measure of value, store of value.
Currency notes issued by the RBI; also bank deposits, UPI and cheques.
Credit: formal (banks, cooperatives) and informal (moneylenders, relatives). Collateral = security for a loan.

For Class 10 (NCERT Understanding Economic Development, “Money and Credit”).

A one-page chart to stick on the wall, and a worksheet to practise.

Barter needs double coincidence of wants; money is a medium of exchange.

kheloaurseekho.in — free charts, games and worksheets

Name: ____________________ Class: ______ Date: __________

1. What is double coincidence of wants? Give an example.

2. Difference between formal and informal credit.

kheloaurseekho.in — free charts, games and worksheets