Q1.
Look at the timeline given below. What are the changes in money that you observe?
Answer
Reading Fig. 11.10 from left to right, money changes six times — and each change makes it easier to use.
| Date on the timeline | Form of money | What changed |
|---|---|---|
| 6000 BCE | Barter | Goods exchanged straight for goods — no money at all |
| 1000 BCE onward | Cowrie | A shell becomes money: countable, light, hard to imitate |
| 600 BCE onward | Metal coinage — iron, silver, gold, copper | Money now carries a stamped, guaranteed value |
| 1861 | Official paper money | Value is separated from the material; paper is far lighter than metal |
| 1980 | Digital money — debit and credit cards | Money moves without being carried |
| 2016 | UPI | A phone and a QR code are enough; the money is purely electronic |
Four patterns stand out:
- From bulky to weightless. Cattle and grain → shells → metal → paper → nothing you can hold.
- From natural to man-made. A shell is found; a coin is minted; a UPI payment is created by software.
- From private to official. Anybody could barter; kings minted coins; today only the RBI may issue currency.
- The pace speeds up. Barter to coins took thousands of years; cards to UPI took about 36.
Check it yourself: the timeline does not say old forms died out. Cowries were still used in parts of India long after coins appeared, and coins, notes and UPI are all in use together today.