9th Social Science - Book Back Answers - Economics Unit 3 - English Medium Guides

  

 

9th - Social Science - Book Back Answers - Economics Unit 3 - English Medium

Tamil Nadu Board 9th Standard Social Science - Economics Unit 3: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Unit 3 – Economics from the Tamil Nadu State Board 9th Standard Social Science textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Economics Unit 3 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 9 students! Prepare well and aim for top scores. Thank you!

Topic: Unit 3. MONEY AND CREDIT

I. Choose the correct Answer

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II. Fill in the blanks

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III. Find out the correct statement 

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IV. Match the following  

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V. Answer the following briefly

1. Why was money invented?

• Measuring the quantity and value of the goods exchanged were found very difficult. To solve these issues people fixed a common item with a standard value for the effective exchange of goods. So money was invented.

 

2. What is ancient money?

• Gold, silver and copper were the metal used first instead of barter system. They were called ancient money.

 

3. What are the items used as barter during olden days?

• Leather, beads, shells, tobacco, salt and corn.

 

4. What is spice route? Why was it called so?

• Pepper, spices, pearls, gems, rubies and muslin clothes were exported from the eastern sea of Tamil Nadu.
• Pepper and spices took a major share of the exports. Thus this route was called the spice route.

 

5. What is natural money?

• The metals such as silver and gold gained importance gradually all over the world. So these metals were used as standard value in the exchange of goods. This was called as natural money.

 

6. Why were coins of low value printed in large quantities?

• Mines had a limited reserve of good and silver.
• An alternative was found and coins were made using metals with lesser value.

 

7. What is meant by foreign exchange?

• Foreign exchange is a exchange of currency between the countries.

 

VI. Answer all the questions given under each caption

1. Explain how money is translated in the digital world.

• In Today's fast growing economy the money transfer has been changed to digital money transferring.

Automated Teller Machine (ATM):

• One can easily withdraw the money needed at any time at ATMs located everywhere which is located everywhere at any time we need.

Credit Cards:

• Similarly, Credit cards are also available through which things are bought on credit and the amount can be paid later.

Net banking:

• Through this money is transacted to anyone who lives anywhere across the globe.

Mobile banking:

• Technology has advanced so much that even mobile banking is widely used nowadays.

 

2. Explain in detail about the role of RBI in the country.

• Reserve Bank of India had a primary function of printing currency and leading for circulation.
• RBI regulates the circulation of currency in India.
• In India, the Reserve Bank supervises the control of economic stability and the price.
• Reserve Bank has foreign exchange stocks in India.
• RBI regulates and controls public sector banks, private banks, cooperative banks.

3. Write in detail about the various functions of money.

• Money should be the accepted medium of exchange in goods and services in a country.
• Money should be the common and standard unit of calculating a total consumer goods, products, services, etc.,
• It acts as a unit of measurement and a standard payments method.
• Money is used as a store of purchasing power. It can be used to finance future payments.