TN STATEBOARD 11th COMMERCE CHAPTER 1
TEST SOLUTIONS
HISTORICAL BACKGROUND OF COMMERCE IN
THE
SUB-CONTINENT CHAPTER TEST
TEST – 1
PADVIKSHA BLOG
TIME: 1 HOUR 15 Minutes
TOTAL MARKS: 25
I Multiple Choice Questions (MCQ) (Mark- 3 x 1 = 3)
1. In Pandiyas Dynasty the place where the goods are sold is _____
ans) Angadi
2. Trade and Commerce was common to _______ Dynasty.
ans) Panidya
3. ____________ is part and parcel of human life.
(ans) Commerce
II VERY SHORT ANSWER QUESTION (MARK 3 x 2 = 6)
Write Any 3 Questions:
1. Which city was called sleepless city?
Answer: Madurai was called sleepless city due to round — the — clock business activities
2. What is meant by Barter system?
Answer. Goods were exchanged for goods prior to invention of money.
3. What was advocated by Kautilya?
welfare through trading activities.
4. What is meant by Nallangadi?
Answer. The place where the goods were sold was called Angadi in the Pandiya period. Day market was called as Nalangadi.
III SHORT ANSWER QUESTION (MARK 2 x 3 = 6)
WRITE ANY 2 QUESTIONS
1. State the meaning of Maruvurapakkam and Pattinapakkam.
Answer. Big cities like Poompuhar had the -Maruvurapakkam (inland town) and 'Pattinapakkam' (coastal town), had market and bazaars where many merchants met one another for the purpose of selling or Duping different kinds of commodities and food stuff.
2. What is the course of commerce activities in today's technology driven society?
Answer: In a technology driven society today again the course of commerce activities is heading for a cashless system through e-commerce which means business activities enabled through electronic modes like Online trading, Mobile banking and e — marketing.
3. What was focused in Arthasasthra about trade?
Answer. Arthasasthra focused on the creation of wealth as the means to promote the wellbeing of the state. Kautilya advocated the maintenance of the perfect balance between State management and people's welfare through trading activities.
IV LONG ANSWER QUESTION (MARK 2 x 5 = 10)
WRITE ANY 2 QUESTIONS
1. How did the ancient Tamil country trade with Rome, China and Europe?
Answer: Roman and Greek traders frequented the ancient Tamil country and forged trade relationship with ancient Kings of Pandiya, Chola and Chera dynasties. Cholas had a strong trading relationship with Chinese Song Dynasty. The Cholas conquered the Sri Vijaya Empire of Indonesia and Malaysia to secure a sea trading route to China. During the 16th and 18th centuries, India's overseas trade expanded due to trading with European companies. The discovery of new all sea routes from Europe to India via Cape of Good Hope by Vasco da Gama had far-reaching impact on the civilized world. The arrival of Portuguese in India was followed by the advent of other European communities. They gained a strong foothold in India's maritime trade by virtue' of their strong naval power.
2. Explain the constraints of Barter System.
Answer:
Barter system:
Goods were exchanged for goods prior to invention of money.
constraints of Barter System:
1. Lack of double coincidence of Wants: Unless two persons who have surplus have the demand for the goods possessed by each other, baiter could not materialize. If this "coincidence of wants" does not exist. Barter cannot take place.
2. Non -existence of common measure of value: Barter system could not determine the value of commodities to be exchanged as they lacked commonly acceptable measures to evaluate each and every commodity.
3. Lack of direct contact between producer and consumers: It was not possible for buyers and sellers to meet face to face in many contexts for exchanging the commodities for commodities.
4. Lack of surplus stock: Absence of surplus stock was one of the impediments in barter system. If the buyers and sellers do not have surplus then no barter was possible.
3. Explain in detail Hindrances of Commerce.
Hindrances of Commerce
Production of goods and services for the satisfaction of human wants is the main objective of an industry. Reaching those goods and services to the people for where these are produced is the object of commerce.
Elimination of Hindrances of Commerce
1. Hindrance of Person: Manufacturers do not know the place and face of the consumers. It is the retailer who knows the taste, preference and location of the consumers. The chain of middlemen consisting of wholesalers, agents and retailers establish the link between the producers and consumers.
2. Hindrance of Place: Production takes place in one centre and consumers are spread throughout the country and world. Rail, air, sea and land transports bring the products to the place of consumer.
3. Hindrance of Time: Consumers want products whenever they have money, time and willingness to buy. Goods are produced in anticipation of such demands.
4. Hindrance of risk of deterioration in quality: Proper packaging and modern air conditioned storage houses ensure that there is no deterioration in quality of products.
5. Hindrance of risk of loss: Fire, theft, floods and accidents may bring huge loss to the business.
6. Hindrance of knowledge: Advertising and communication help in announcing the arrival of new products and their uses to the people.