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Question Practice

How did ancient people typically determine the fair value of goods in barter?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 7
Social Science
Exploring Society India and Be...
From Barter to Money
Question Bank

How did ancient people typical...

Single Answer MCQ
Q-00130422

How did ancient people typically determine the fair value of goods in barter?

1

By using a global currency standard

2

By mutual agreement based on needs

3

Through government regulation

4

By fixed pricing methods

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Keep Practising

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Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

What is the barter system?

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Q2.

Which of the following is a limitation of the barter system?

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Q3.

In the barter system, which item listed was commonly used as a commodity?

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Q4.

What problem does the term 'portability' refer to in the barter system?

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