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I. Choose the Correct Answer:

Question 1. ____________   is part and parcel of human life.

(a) Commerce

(b) Banking

(c) Insurance

(d) Warehousing

Answer: (a) Commerce

 

Question 2. ___________   means exchange of goods for goods.

(a) Insurance

(b) Money

(c) Barter System

(d) Transport

Answer: (c) Barter System.

 

Question 3. Commerce activities are heading for a cashless system through   _____________

(a) e — commerce

(b) banking

(c) insurance

(d) warehousing

Answer: (a) e — commerce

 

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Question 4. __________ in Sangam period was both internal and external.

(a) Sales

(b) Education

(c) Industry

(d) Trade

Answer: (d) Trade

 

Question 5. Day market was called as   

(a) Nalangadi

(b) Angadi

(c) Business

(d) Trade

Answer: (a) Nalangadi

 

Question 6. Night market was called as  

(a) Allangadi

(b) Street store

(c) Shop

(d) Maligai

Answer: (a) Allangadi

 

Question 7. Which is called as sleepless city?

(a) Chennai

(a) Allangadi

(c) Tuticorin

(d) Salem

Answer: (a) Allangadi

 

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Question 8. Boats like __________ were used to cross rivers for domestic trade.

(a) Fishings

(b) Kalam

(c) Marakalam

(d) Thimil

Answer: (d) Thimil

 

Question 9. Boats like ____________ were used for crossing oceans for foreign trade.

(a) Vangam

(b) Thimil

(c) Ambu

(d) Thoni

Answer: (a) Vangam

 

Question 10.  ________ was the chief port of the Kingdom of Cholas.

 (a) Marakannam

(b) Arikamedu

(c) Kayal

(d) Kaveripumpattinam

Answer: (d) Kaveripumpattinam

 

Question 11.  Who advocated maintenance of perfect balance between State management and people's welfare through trading activities?

(a) Kautilya

(b) Pandiya

(c) Hebrew

(d) Chola

Answer: (a) Kautilya

 

Question 12. The profit margin allowed for traders ranged from 5% for indigenous goods and ______ for imported goods.

(a) 10%

(b) 5%

(c) 15%

(d) 20%

Answer: (a) 10%

 

Question 13. Who encouraged import of foreign goods from Persia and subsidized the goods?

(a) Balban

(b) Sultan

(c) Alauddin Khilji

(d) Kautilya

Answer: (c) Alauddin Khilji

 

Question 14. Which one helps in announcing the arrival of new products and their uses to the people?

(a) Advertising

(b) Banking

(c) Trade

(d) Transport

Answer: (a) Advertising

 

Question 15.  ______ functions as a medium of exchange.

(a) Transport

(b) Banking

(c) Money

(d) Warehousing

Answer: (c) Money

 

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II. Very Short Answer Questions

 

Question 1. What is cashless system?

Answer: Commerce activities are heading for a cashless system through e-commerce which means business activities enabled through electronic modes like online trading, Mobile banking and e —marketing.

 

Question 2. What is "Angadi'?

Answer: The place where the goods were sold was called "Angadi' in Pandiya Dynasty.

 

Question 3. Which city was called sleepless city?

Answer: Madurai was called sleepless city due to round — the — clock business activities.

 

Question 4. What type of boats were used to cross rivers for domestic trade?

Answer: Boats like 'Padgu', Thom', 'Ambu"Odampunai', etc.., were used to cross rivers for domestic trade.

 

Question 5. What type of boats were used to cross oceans for foreign trade?

Answer: Boats like 'Kalam'. "Marakalam'.’Vangam', 'Naval', etc.., were used for crossing oceans for foreign trade.

 

Question 6. How were the foreigners called in Ancient Tamil Nadu?

Answer: Foreigners who transacted business were known as 'yavanars'.

 

Question 7. What was the role of the state in trade?

Answer: The role of the state in trade related to two aspects namely adequate infrastructure to sustain the trade and administrative machinery for taxation.

 

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Question 8. What was advocated by Kautilya?

Answer: Kautilya advocated maintenance of perfect balance between State management and people's welfare through trading activities.

 

Question 9. With whom Cholas had a strong trading relationship?

Answer: Cholas had a strong trading relationship with Chinese Song Dynasty.

 

Question 10. What are the constraints of Barter System? (Any two)

Answer:

1. Lack of double coincidence of wants

2. Non — existence of common measure of value

 

III. Short Answer Questions

 

Question 1. How has the commerce activities emerged now?

Answer: The whole of commerce activity has emerged from barter system into a multi — dimensional and multifaceted scientific system consisting of courses like Monetary system, Mail order business, Hire purchase system, Instalment purchase system and so on.

 

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Question 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.

 

Question 3. What were the constraints in barter system? (Any three)

Answer:

1. Lack of Double Coincidence of Wants: Unless two persons who have surplus have the demand for the goods possessed by each other, barter 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.

 

Question 4. Write any three hindrances of commerce.

Answer:

1. Hindrance of Person: Manufacturers do not know the place and face 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.

 

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IV. Long Answer Questions

 

Question 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.

 

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