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CBSE Notes 2011-2012 » Money and Credit - Class 10 Social Science MCQs (Free Practice Test)

Money and Credit - Class 10 Social Science MCQs (Free Practice Test)


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A select subset of questions has been made available here.
You can use this for preparation purpose.
Once you are ready, click on 'Take Quiz' to start the QUIZ.
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Question :

Direct exchange of goods against goods without use of money is known as


Answer :

Debt trap
Barter system
Money system
None of the above


Question :

It is a paper instructing the bank to pay a specific amount from the person's account to the person in whose name it has been made is


Answer :

Paper note
Cheque
Chit fund
Credit card


Question :

Both parties agree to sell and buy each others commodities


Answer :

Measure of value
Store of value
Double coincidence of wants
Credit


Question :

Formal sources of credit does not include


Answer :

Banks
Cooperatives
Employers


Question :

It is important that the formal credit is distributed more equally so that


Answer :

Poor can benefit from cheaper loans
Rich can get costly loans
Rich can get cheaper loans
None of the above


Question :

Contribution of commercial banks as a source of credit for rural households in India in 2003 was


Answer :

30%
28%
25%
26%


Question :

__________ help borrowers overcome the problem of lack of collateral and also they are
the building blocks of organisation of the rural poor.


Answer :

Government
Banks
Private sector
SHGs


Question :

Formal sector meets only about ____________ of the total credit needs of the rural people(in 2003)


Answer :

one third
one fourth
half
whole


Question :

An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment.


Answer :

Credit (loan)
Chit fund
Bank
Cheque


Question :

Salim, the shoe manufacturer, to meet expenses obtains loans from two sources.
(i) Asks leather supplier to supply leather on credit (ii)Bank
(iii) Obtains loan in cash as advance payment
(iv) Relatives


Answer :

(i) and (iii)
(i) and (ii)
(iii) and (iv)
(ii) and (iii)