CBSE CBSE Class 10 Economics CBSE Class 10 Social Science Class 10 Multiple Choice Questions Facebook Twitter Telegram WhatsApp MCQs of Economics Class 10 Chapter 3 Money and Credit MCQs of Economics Chapter 3 Money and Credit MCQs Economics Chapter 3 Money and Credit Class 10 1 / 53 Anything which is generally accepted by the people in exchange of goods and services is called : money barter credit loans 2 / 53 Which among these is an essential feature of barter system ? Money can easily exchange any commodity It is based on double co-incidence of wants It is generally accepted as a medium of exchange of goods with money It acts as a measure and store of value 3 / 53 Who helps the borrowers to overcome the problem of lack of collateral? Self-help group (SHG) State government Employers Moneylenders 4 / 53 Why bank deposits are known as demand deposits ? Deposits with the banks People have the provision to withdraw the money when they require Deposits with the banks cannot be witdrawn People have the provision to withdraw the money only by cash 5 / 53 What do you mean by collateral? It is the total sum of money with a person It is the things kept in the locker It is the guarantee given by the lender to the borrower. It is the security to a lender until the loan is repaid 6 / 53 Which one of the following is the main source of credit for the rich households? Informal Formal Both formal and informal Neither Formal nor informal 7 / 53 Banks use the major portion of the deposit to : Keep reserve so that people may withdraw Meet their routine expenses Extend loans Meet renovation of the bank 8 / 53 Which one of the following agencies issues currency notes on behalf of the government of India ? Ministry of Finance Reserve Bank of India State Bank of India World Bank 9 / 53 Which one of the following is a major reason that prevents the poor from getting loans from the banks? Lack of capital Not affordable due to high rate of interest Absence of collateral security Absence of mediators 10 / 53 At present which form of money is increasingly used apart from paper money? Commodity money Metallic money Plastic money All the above 11 / 53 Terms of credit does not include : interest rate collateral cheque mode of repayment 12 / 53 Who supervises the functioning of formal sources of loans? RBI (Reserve Bank of India) Central government State government None 13 / 53 Which is not the main source of credit from the following for rural households in India ? Traders Relatives and friends Commercial Banks Moneylenders 14 / 53 What portion of deposits are kept by the banks for their day to day transaction ? 10% 15% 20% 25% 15 / 53 Which of the following is not a source of rural credit? Regional rural banks Moneylenders Traders Government 16 / 53 The part of the total deposits which a bank keeps with itself in cash is zero a small proportion a big proportion 100 percent 17 / 53 Which one of the following is not included in the terms of credit? Rate of Interest Mode of payment Rate of saving Collateral 18 / 53 Banks do not give loans : to small farmers to marginal farmers to industries without proper collateral and documents 19 / 53 Majority of the credit needs of the poor households are met from formal sources informal sources self-help groups none of the above 20 / 53 Which of the following is not a modern form of money? Paper notes Demand deposits Silver coins None of the above 21 / 53 Money eliminates double-coincidence of wants acts as a common measure of value acts as a standard of deferred payments all the above 22 / 53 Formal Sources of credit include : money lenders co-operatives Employers Finance companies 23 / 53 When both parties agree to sell and buy each others commodities it is known as : measure of value double coincidence of wants store of value credit 24 / 53 Which one of the following is NOT an informal sector loans for poor rural household in India ? Commercial Banks Moneylenders Traders Landlords 25 / 53 In a SHG most of the decisions regarding loan activities are taken by Banks Member Non-government organizations Cooperatives 26 / 53 Which of the following is not true regarding the in convenience of Barter Exchange ? Lack of double coincidence of want Absence of divisibility Difficulty in storing wealth Availability of money as a medium of exchange 27 / 53 Which state accounts for maximum percentage of SHGs (self-help groups) in bank credit? Andhra Pradesh Tamil Nadu Kerala Karnataka 28 / 53 Which one of the following is the important characteristic of modern form of currency? It is made from precious metal It is made from thing of everyday use It is authorised by the commercial banks It is authorised by the Government of the country 29 / 53 Cheap and affordable credit results in which one of the following ? Slow economic growth Creating a debt trap Poverty Good economic growth 30 / 53 Regional Rural Banks were set up in ________. 1969 1979 1989 1999 31 / 53 When was the KCC (Kisan Credit Card) scheme introduced? 1969 1979 1987-88 1998-99 32 / 53 An asset that the borrower uses as a repayment guarantee to a lender is termed as a : deposit collateral advance all the above 33 / 53 Formal sources of credit include banks moneylenders employers all the above 34 / 53 Credit or loan refers to an agreement between : lender and borrower consumer and producer government and tax payer all the above 35 / 53 The formal sector meets only about _______ of the credit needs of rural people : 25% 52% 75% 15% 36 / 53 A Self-Help Group usually has : 5-10 members 10-15 members 15-20 members 20-25 members 37 / 53 Which of the following is not an advantage of self-help group? Grant of timely loans Reasonable interests A platform to discuss various issues Does not help women to become selfreliant. 38 / 53 Which households take more loans from the formal sector ? Poor households and rich household Well off households and households with few assets Poor households and well off households Well off households and rich households 39 / 53 Rich households in urban areas avail cheap credit from formal sources informal sources government all the above 40 / 53 What are the modern forms of money? Currency Plastic money Demand deposits All the above 41 / 53 Terms of credit are with respect to : interest rate collateral documentation all the above 42 / 53 _________ are widely accepted as a medium of exchange. Rupee notes Gold coins Silver coins All the above 43 / 53 Which one of the following constitutes money in modern day economy? Gold Silver Interest Demand Deposits 44 / 53 Currency is issued in India by : commercial banks regional rural banks nationalised banks Reserve Bank of India 45 / 53 Which one of the following authorises money as a medium of exchange? Reserve Bank of India Self Help Groups The Central Government The President of India 46 / 53 Which one of the following is not a modern form of money? Demand Deposits Paper currency Coins Precious metals 47 / 53 Productive loans by farmers are taken to buy seeds, fertilisers, implements etc. for celebration of marriages for storage of foodgrains in godowns none of the above 48 / 53 Which of the following is a major reason which prevents the poor from getting bank loans? Absence of collateral (security) Non-repayment of loans Higher interest rates Documentation 49 / 53 Rate of interest charged by moneylenders as compared to that charged by banks is : lower same slightly higher much higher 50 / 53 System of exchanging goods for goods is called : monetary system credit system barter system exchange system 51 / 53 Deposites in bank accounts withdrawn on demand are called : Fixed deposit Recurring deposit Demand deposit None of these 52 / 53 Identify the formal source of credit. Cooperative societies Moneylenders Traders Landlords 53 / 53 Who supervises the credit activities of lenders in the informal sector? Central Bank of India Commercial banks Moneylenders None Your score isThe average score is 60% 0% Restart quiz
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