NCERT Class 10 Social Science Economics Chapter 3 Money and Credit Extra Questions and Answers
Class 10 Social Science Economics Chapter 3 Extra Inside Questions and Answers – Money and Credit. Here in this Page Class X Students can Learn Extra Questions & Answer 3rd Chapter Social Science Economics fully Inside.
We Provided Here Money and Credit Social Science Economics Chapter 3 Long Answer Type Question, MCQ Questions & Answer, Short Answer Type Questions (2 or 3 marks), and Very Short answer Type Question (1 marks) Solution.
Class 10 Social Science Economics Chapter 3 Extra Question with Answer – Money and Credit
Social Science Economics Chapter 3 Money and Credit Class 10 Inside 5 Marks, 3 marks, 2 Marks & And 1 Marks Important Questions and Answers.
Multiple Choice Questions:
1) In barter system goods are exchanged for –
a) Money
b) Goods
c) Money and Goods.
Ans:- b) Goods.
(1) Which of the following does not belong to formal means of credit
(a) Bank
(b) Co-operative Societies
(c) Employees
(d) None of the above
(2) A substitute of cash cheque is
(a) Credit card
(b) Coin
(c) Currency
(d) Demand deposit
(3) Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of …….
(a) Future payment
(b) Payment made
(c) No Payment
(d) Security
(4) Money acts as an intermediate in the exchange process hence it is called a ……..
(a) Store of value
(b) Standard of measurement
(c) Medium of exchange
(d) None
5.) On behalf of central Government paper notes were introduced by the –
a) Gramin Bank
b) State Bank
c) Reserve Bank.
Ans: c) Reserve Bank.
Very Short Answer:
(1) What is cheque?
Ans – A cheque is a document that orders a bank to pay a specific amount of money from a person’s account to the person in whose name the cheque has been issued.
(2) ……. include details regarding rate of interest, mode of repayment, documents and collateral.
(3) Who supervises the functioning of formal sources of loans?
(4) How do the deposits with the bank become their source of income?
(5) What is Money ?
Ans: Money is an object that is used as a medium of exchange during a transaction.
Short Answer:
(1) What are demand deposits? How is money safe in the banks? Explain.
(2) “The credit activities of the informal sector should be discouraged.” Support the statement with arguments.
(3) How can money be easily exchange for goods or services? Give an example to explain.
Long Answer:
(1) What formalities do the borrower have to do to get a home loan?
(2) The credit activity of the informal sector should be discouraged. Support the statement.
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