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quiz on money and credit class 10

Give any two examples of informal sector of credit. Here on AglaSem Schools, you can access to NCERT Book Solutions in free pdf for Social Science Economics for Class 10 so that you can refer them as and when required. It usually results in a debt trap for the borrower. Self Help Groups (SHGs) are recent phenomena. MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. The interest rate charged by a bank no loans is higher than the interest rate given by it on deposits. Terms of Credit: The terms of credit include rate of interest, collateral and mode of repayment. Social Science Class 10 Important Questions Economics Chapter 3 Money and Credit Class 10 Important Questions. d. A four-tier system of government. Answer: a Modern forms of money include currency – paper notes and coins. Download Class 10 Offline apps to use it without internet. Results are being recorded. The group charges interest on the loan. a. A person holding money can easily exchange it for any commodity or service that he or she might want. Deposits with Banks are also a form of money. You will be able to view the results only after attempting all the questions. NCERT Solutions Class 10 Social Science Economics Chapter 3 Money And Credit. Things to remember about money and credit Class 10 solutions: Money is anything which is commonly accepted as a medium of exchange and in discharge of debts. By practicing Class 10 Economics Chapter 3 MCQ with Answers, you can score well in the exam. In India, the RBI (Reserve Bank of India) issues currency notes. (ii) Deposits with Banks. Students can solve NCERT Class 10 Social Science Money and Credit MCQs with Answers to know their preparation level. Informal Sector: The informal sector consists of money lenders and friends and relatives, merchants and landlords. 1,866 Views. Payment through credit/debit card is done electronically and this removes the need of carrying cash. The coins were initially made of precious metals; like gold and silver. Hurry! Credit / Debit Cards: Now-a-days, credit/debit cards are in vogue. A two-tier system of government. 29 Multiple Choice Questions related to NCERT 10th Class (CBSE) Social Science: Money and Credit Quiz: A bank is an institution that accepts the surplus deposits and grants loan to the people or businessmen. Land, house, vehicle, livestock, deposits with banks, insurance policy, gold, etc. Hence you can not start it again. (2011 D) Answer: Reserve Bank of India. This is usually 15% of their deposits as cash. NCERT Book for Class 10 Social Science Economics Chapter 3 Money and Credit is available for reading or download on this page. c. A single-tier system of government. You have already completed the quiz before. There are many others who may not have enough documents; like residential certificate or income certificate. Download Class 10 SST Economics Chapter 3 MCQ in PDF format from the below access links and start practicing on a regular basis for better subject knowledge. When the precious metals became too precious, ordinary metals were being used for making coins. Q.2. It was the Grameen Bank of Bangladesh which began experimenting with micro-finance. Which one of the following statements is most appropriate regarding transaction made in money? Instructions:-All the questions are compulsory. Paper notes, coins and demand deposits constitute the modern money. The collection is then utilized to lend small amounts of money which may be required by any of the members. There is no substitute for consistent practice whether one wants to understand a concept thoroughly or one wants to score better. Choose the correct option: Question 1. The informal lenders usually charge a very high rate of interest. Central bank has a monopoly of issuing notes and thereby can control the volumes of currency. 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