Write the correct statement

Social Science : Economics

MONEY AND CREDIT

VI. Write the correct statement

a) 1. The barter system flourished wherever civilizations thrived.

2. This was the initial form of trade.

i) 1 is correct; 2 is wrong

ii) Both 1 and 2 are correct

iii) Both 1 and 2 are wrong

iv) 1 is wrong; 2 is correct

Answer : (ii) Both 1 and 2 are correct

b) 1. Most of the International trade transactions are carried out in US dollars.

2. No other country except the US carries out trade in the world.

i) Both the statements are correct

ii) Both the statements are wrong

iii) 1 is correct; 2 is wrong

iv) 1 is wrong; 2 is correct

Answer : (iii) 1 is correct; 2 is wrong