Samacheer Kalvi 8th Social Science Economics Chapter 1

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Samacheer Kalvi 8th Social Economics Chapter 1 Answers Solutions:

Samacheer Kalvi 8th Standard New Social Science Book Back 1 Mark and 2 Mark Question & Answers PDF uploaded and available below. 8th standard new Syllabus 2022 to 2023 Book Back Question & Answer available for both English and Tamil Mediums. Samacheer Kalvi Class 8th Social Economics Book Chapter 1 Money, Savings and Investments Answers/Solutions in English are provided on this page. 8th Std New Social History Book consists of 08 units, Geography Book consists of 08 units, Civics book portion consists of 07 units, Economics book portion consists of 02 units, All Social Book Back One, and Two Mark Answers/Solutions are given below.




Check Unit wise and  Samacheer Kalvi 8th Social Science Book Back Solutions Answers PDF format for Free Download. English, Tamil, Maths, Science, and Social Science Book Back Question and Answer is available in PDF. Samacheer Kalvi Class 8th Std Social Book Back Answers PDF. Check Social Science – History, Geography, Civics, Economics Answers below. See below for the 8th New Syllabus Book Back Solution guide free PDF download:

Samacheer Kalvi 8th Social Science Book Back Solutions Guide:

Samacheer Kalvi  8th std Social Subject 1 Mark and 2 Mark Solutions PDF available below. Click the Download option to download the book back 1 Mark & 2 Mark questions and Solutions/Answers. Take the printout and use it for exam purposes. Samacheer Kalvi 8th Social Science Economics Chapter 1 Questions and Answers are given below.

Social Economics Book Back Solution

Chapter 1 – Money, Savings, and Investments

I. Choose the correct answer

1. Which metals were used for metallic money?
(a) Gold
(b) Silver
(c) Bronze
(d) All the above
Answer:
(d) All the above

2. Who introduced the paper money?
(a) British
(b) Turkish
(c) The Mugual Empire
(d) Mauryas
Answer:
(a) British

3. The value of money is
(a) Internal value of money
(b) External value of money
(c) Both a & b
(d) None of these
Answer:
(c) Both a & b

4. Which is the Bank Money?
(a) Cheque
(b) Draft
(c) Credit and Debit cards
(d) All the above
Answer:
(a) Cheque

5. Pick out the incorrect one:
Investment can be made in different vehicle.
(a) Stock
(b) Bonds
(c) Mutual fund
(d) Pay tax
Answer:
(d) Pay tax

6. Who is responsible for the collection and publication of monetary and financial information?
(a) Finance commission
(b) Finance Ministry
(c) Reserve Bank of India
(d) Auditor and Comptroller General of India
Answer:
(c) Reserve Bank of India

II. Fill in the Blanks

  1. Online Banking is also known as ……………
  2. ……………. is what money does.
  3. The term of bank is derived from ……………. word.
  4. Value of money is meant …………….. of money.
  5. The Indian banking regulation act of ……………..

Answer:

  1. Net Banking
  2. Money
  3. German
  4. The purchasing power
  5. 1949

III. Match the following

8th social science book back questions with answer

Answer:

1 – iv; 2 – v; 3 – ii; 4- iii; 5 – i




IV. Write the one-word answer

1. The word Money is derived from?
Answer:
The word money is derived from the Roman word ‘Moneta Juno’.

2. Which bank gives both short-term and long-term loans?
Answer:
Rural cooperative credit institutions.

V. Choose the correct statement

1. Barter system had many deficiencies like –
I. Lack of double coincidence of wants
II. No difficulties of storing wealth
III. Common measure of value
IV. Indivisibility of commodities

(a) I and II is correct
(b) I and IV is correct
(c) I, III and IV is correct
(d) All are correct
Answer:
(c) I, III and IV is correct

VI. Find out the odd one

1. Recent forms of money transactions are
(a) Credit card
(b) Barter system
(c) Debit card
(d) Online banking
Answer:
(b) Barter system

2. Effects of black money on economy is
(a) Dual economy
(b) Undermining equity
(c) No effects on production
(d) Lavish consumption spending
Answer:
(c) No effects on production

VII. Write short answer

1. What is the Barter System?
Answer:
A barter system is an old method of exchange. Barter system is exchanging goods for goods without the use of money in the primitive stage.

2. What are the recent forms of money?
Answer:
Plastic Money and E – Money

3. Short note on E-Banking and E-Money.
Answer:
E-Banking: Electronic banking is also known as National Electronic Funds Transfer (NEFT), is simply the use of electronic means to transfer funds directly from one account to another rather than by cheque or cash.
E-Money: Electronic Money is money that exists in banking computer systems and is available for transactions through the electronic system.

4. What are the essentials of Money in your life?
Answer:
Money is used as the source to fulfill basics needs as well as comforts in life. It gets people accommodation, clothes, food and other things which add to luxury in life. It is an important source to live a healthy life too.

5. What is the Value of Money?
Answer:
Value of money is the purchasing power of money over goods & services in a country.

6. What are Savings and Investment?
Answer:
Black money is money earned through any illegal activity controlled by country regulations.

7. What is meant by Black Money?
Answer:
Black Money is money earned through any illegal activity controlled by country regulations.

8. What are the effects of black money on economy?
Answer:

  1. Dual economy
  2. Tax evasion, thereby loss of revenue to government.
  3. Undermining equity

Widening the gap between the rich and poor

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