Consider the following statements regarding the economic life of the Early Vedic society:
1. Trade was primarily conducted through the barter system, and there was no regularized metallic currency in circulation.
2. The cow functioned as a standard unit of value and barter alongside specialized gold pieces known as nishkha.
Which of the statements given above is/are correct?

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Accepted Answer

Both statements are correct. The Rigvedic economy lacked minted coins or a formal monetary system. Commercial exchanges relied on barter. Due to its high utility, the cow was the most common standard unit of value. Simultaneously, gold neck-ornaments or disks called nishkha were deployed as high-value trade chips before evolving into actual currency later.

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