NCERT Solutions for Class 11 Business Studies Chapter 1 Foundation of Business

Ans : Harappa, Mohenjodaro, Pataliputra, Peshawar and Indraprastha. 

Ans : Hundi as an instrument of exchange, which was prominent in Indian subcontinent. It involved a contract which — 
(i) warrant the payment of money, the promise or order which is unconditional 
(ii) capable of change through transfer by valid negotiation. 

Ans : Major exports included: spices, wheat, sugar, indigo, opium, sesame oil, cotton, parrot, live animals and animal products—hides, skin, furs, horns, tortoise shells, pearls, sapphires, quartz, crystal, lapis, lazuli, granites, turquoise and copper etc.


Major imports included: horses, animal products, Chinese silk, flax and linen, wine, gold, silver, tin, copper, lead, rubies, coral, glass, amber, etc. 

Ans : Different types of Hundi in use by traders in ancient times:


Dhani-jog - Payable to any person—no liability over who received payment.
Sah-jog - Payable to a specific person, someone ‘respectable’. Liability over who received payment.
Firman-jog  - Hundi made payable to order.
Dekhan-har - Payable to the presenter or bearer.
Dhani-jog - Payable to any person—no liability over who received payment, but payment over a fixed term.
Firman-jog - Hundi made payable to order following a fixed term.
Jokhmi - Drawn against dispatched goods. If goods lost in transit, the drawer or holder bears the coasts, and the Drawee carries no liability.
 

Ans : The trade of goods and people by sea and other waterways is known as maritime trade. This was another important branch of global trade network.