Edunovations

NCERT Class 10 Social Science MCQ : Money and Credit

Post author:Piyush
Post published:November 19, 2023
Post category:Uncategorized
Post comments:0 Comments
Post last modified:November 19, 2023
Reading time:6 mins read

Table of Contents

NCERT Class 10 Social Science MCQ : Money and Credit

Unlock the complexities of economic systems with our expertly curated Multiple Choice Questions (MCQs) page on “Money and Credit.” This resource is an essential companion for students and aspirants, featuring exam-tested questions meticulously gathered from previous year papers across various sectors, including UPSC IAS and more. Explore the intricacies of monetary systems, financial institutions, and credit mechanisms to enhance your understanding and excel in competitive exams.

Key Features:

Exam-Tested Questions: Rigorously selected MCQs that align with the depth and diversity of questions found in renowned exams, ensuring a comprehensive preparation for money and credit-related topics.
Comprehensive Coverage: Encompassing key aspects such as monetary policies, banking systems, and credit instruments, this resource provides a well-rounded understanding of financial concepts.
Strategic Exam Preparation: Equip yourself with the knowledge and analytical skills necessary to navigate questions related to money and credit in various competitive exams.

Engaging with these MCQs not only enhances your grasp on economic concepts but also sharpens your ability to analyze financial systems effectively

Question:

Fill in the blank by choosing the most appropriate option: The exchange of goods for goods is a process of ………………

ABuying goods through currency
BSelling goods through currency
CBartering goods
DMaking goods

Question:

What portion of deposits is essential for the banks to maintain in liquid cash for their day to day transaction?

A10%
B15%
C20%
D25%

Question:

Which of the following statements is an essential feature of barter system?

A(a) Money can easily be used to buy any commodity or service.
B(b) The barter system is based on the double coincidence of wants.
C(c) The barter system promises payments at a later date than the day of transaction.
D(d) The barter system helps the people to buy and sell goods easily and quickly.

Question:

Which one of the following agencies issues currency notes on behalf of the government of India?

AThe Finance Minister of India issues them.
BReserve Bank of India issues the currency
CAll the banks of the country can issue notes.
DWorld Bank issues notes Answer:

Question:

Which one of the following is not a modern form of money?

APaper currency
BDemand Deposits
CCoins
DPrecious metals

Question:

Which of the following refers to investment?

AThe money spent on religious ceremonies
BThe money spent on social customs
CThe money spent to buy assets such as land.
DThe money spent on household goods.

Question:

Which one of the following is a formal source of credit?

ATraders
BCooperative sectors
CMoney lenders
DFriends and relatives

Question:

Which among the following issues currency notes on behalf of the central government?

AState Bank of India
BReserve Bank of India
CCommercial Bank of India
DUnion Bank of India

Question:

Which one of the following options is NOT correct about a typical Self-Help Group?

AIt has 15-20 members
BIt does not have any male members
CIts members usually belonging to one neighbourhood
DSaving per member varies in it.

Question:

Money is accepted as a medium of exchange because:

AIt is authorized by the government of India
BIt is issued by the Reserve Bank of India
CIt is legalised as a medium of payment in India
DAll of these

Question:

Find the incorrect option:

A(a) Demand deposit share the essential features of money
B(b) With demand deposit payments can be made without cash
C(c) Demand deposits are a safe way of money transformation
D(d) Demand deposit facility is like cheque

Question:

What do people do with the extra cash in hand? Choose the most correct option from the following:

AThey deposit it with one of the informal lenders
BThey deposit it with an NGO
CThey deposit it with the bank manager
DThey deposit it with the banks by opening a bank account in their name

Question:

When do people have the provision to withdraw money? Choose the most appropriate option from the following:

AThey can withdraw money at the time of severe illness
BThey cannot withdraw money before it reaches to it maturity level
CThey can withdraw money as and when they require
DBoth (a) and (b)

Question:

Money borrowed from banks and cooperative societies comes under which source of credit?

AInformal
BFormal
CSemi-Formal
DNone of the above

Question:

In a self-help group most of the decisions regarding savings and loan activities are taken by which one of the following:

ABank
BMembers
CNGOs
DAll of these

Question:

Formal sources of credit do not include

ABanks
BCooperatives
CEmployers
DBoth (a) and (b)

Question:

Arrange the following forms of currency according to their usage from oldest to recent use: (i) Paper Currency (ii) Grain and cattle (iii) Coins (iv) Net banking and digital payments

A(iii)-(iv)-(i)-(ii)
B (ii)-(iii)-(i)-(iv)
C(i)-(ii)-(iiii)-(iv)
D(iv)-(iii)-(ii)-(i)

Question:

Bank deposits are also called

ACollateral
BDemand deposits
CCheque
DCurrency

Question:

Terms of credit do not include:

ABank deposits
BInterest rate
CCollateral
DMode of repayment

Question:

Rampur is an area where 80% people borrow money from the bank while 10% don’t borrow and the rest 10% take it from their friends, relatives or local moneylenders. Where will Rampur be situated?