Class 7 Social Science - Our Past-2 (History) - Chapter Eighteen Century Political Formations NCERT Solutions | Do you think merchants and bankers today

Welcome to the NCERT Solutions for Class 7th Social Science - Our Past-2 (History) - Chapter Eighteen Century Political Formations. This page offers a step-by-step solution to the specific question from Exercise 1, Question 9: do you think merchants and bankers today have the....
Question 9

Do you think merchants and bankers today have the kind of influence they had in the eighteenth century?

Answer

During the 18th century, merchants were more influences the bankers. They used to provide more than enough loan opportunities at the higher interest rates to them. But now with the spread of education, people prefer those banks which provide loans and other financial facilities at the cheaper rate. Bankers also provide subsidy facility on the interest rate. They have various different scopes of loans for different purposes. So, they are more influential in recent times than the merchants.

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