MCQ Questions | Class 10 Social Science Economics Chapter 3 | Money and Credit with Answers

MCQ Questions for Class10 Social Science Chapter 3 Money and Credit

MCQ | Class 10 Social Science Economics Chapter 3 | Money and Credit Set B

Check the below NCERT MCQ Questions for Class 10 Social Science Economics Chapter 3 Money and Credit with Answers Pdf free download. MCQ Questions for Class 10 Social Science with Answers were prepared based on the latest exam pattern. We have Provided Money and Credit Class 10 Social Science MCQs Questions with Answers to help students understand the concept very well.

Objective Question | Social Science Class 10 Chapter 3

NCERT Solutions Class 10 Social Science Economics
Book:	National Council of Educational Research and Training (NCERT)
Board:	Central Board of Secondary Education (CBSE)
Class:	10th
Subject:	Social Science \| Economics \| Understanding Economic Development
Chapter:	3
Chapters Name:	Money and Credit
Medium:	English

Class 10 Social Science Chapter 3 | Objective Type Questions

You can refer to NCERT Solutions for Class 10 Social Science Chapter 3 Money and Credit to revise the concepts in the syllabus effectively and improve your chances of securing high marks in your board exams.

Q1.	What portion of deposits are kept by the banks for their day to day transaction?
	A.0.1
	B.0.15
	C.0.2
	D.0.25

Q2.	Which households take more loans from the formal sector?
	A.Poor households and rich household.
	B.Well off households and households with few assets.
	C.Poor households and well off households
	D.Well off households and rich households.

Q3.	Which among these is an essential feature of barter system?
	A.Money can easily exchange any commodity
	B.It is based on double co-incidence of wants
	C.It is generally accepted as a medium of exchange of goods with money
	D.It acts as a measure and store of value

Q4.	Which one of the following is the main source of credit for the rich households?
	A.Informal
	B.Formal
	C.Both formal and informal
	D.Neither Formal nor informal

Q5.	Which one of the following is not a formal source of credit?
	A.Commercial Banks
	B.State Bank of India
	C.Employers
	D.Co-operatives

Q6.	Which one of the following agencies issues currency notes on behalf of the government of India?
	A.Ministry of Finance
	B.Reserve Bank of India
	C.State Bank of India
	D.World Bank

Q7.	Why is currency accepted as a medium of exchange?
	A. Because the currency is authorised by the government of the country.
	B. Because it is liked by the people who use it.
	C. Because the use of currency has its origin in ancient times.
	D. Because the currency is authorised by the World Bank.

Q8.	Who issues the currency notes in India?
	A. Currency notes are issued by the Finance Commission.
	B. All the nationalized banks can issue the currency notes.
	C. Only Reserve Bank of India can issue currency notes.
	D. Any individual or organization can issue cur¬rency notes with the permission of the govt.

Q9.	Which among the following banks issues currency notes on behalf of the Central Government in India?
	A. RBI
	B. State Bank of India
	C. Bank of India
	D. Central Bank of India

Q10.	What do the banks do with the deposits which I they accept from the customers?
	A. Banks use these deposits for charitable activities.
	B. Banks use a major portion of deposits to extend loans.
	C. Banks use deposits to give bonus to their employees.
	D. Banks use deposits to set up more branches in the country.

Q11.	What is the main source of income of a bank?
	A. Bank charges that the depositors pay for ; keeping their money safe is the main ; source of the bank’s income.
	B. The difference between what is charged from the borrowers and paid to the depositors is the main source of bank’s income.
	C. Banks earn huge amounts of money by investing the money of the depositors in various company shares.
	D. The Government of India gives huge amounts of money to the banks to help their smooth functioning.

Q12.	An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to
	A. Debt
	B. Deposit
	C. Credit
	D. Collateral

Q13.	Which body (authority) supervises the functioning of formal sources of loans?
	A. Finance Ministry
	B. Head Office of each Bank
	C. Reserve Bank
	D. Cooperative Societies

Q14.	Money-lenders usually demand a ‘security’ from the borrower. What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc.?
	A. Deposit
	B. Collateral
	C. Credit
	D. Guarantee

Q15.	Which among the following options will be the cheapest source of credit in rural areas?
	A. Bank
	B. Cooperative Society
	C. Money-lender
	D. Finance Company

Q16.	Formal Sources of credit include :
	A.money lenders
	B.co-operatives
	C.Employers
	D.Finance companies

Q17.	Which one of the following is NOT an informal sector loans for poor rural household in India?
	A.Commercial Banks
	B.Moneylenders
	C.Traders
	D.Landlords

Q18.	Which one of the following is not a modern form of money?
	A.Demand Deposits
	B.Paper currency
	C.Coins
	D.Precious metals

Q19.	Identify the formal source of credit:
	A.Cooperative societies
	B.Moneylenders
	C.Traders
	D.Landlords

Q20.	Who helps the borrowers to overcome the problem of lack of collateral?
	A.Self-help group (SHG)
	B.State government
	C.Employers
	D.Moneylenders

MCQ Questions | Class 10 Social Science Economics Chapter 3

MCQ Questions | Class 10 Social Science Economics Chapter 3 | Money and Credit with Answers

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