MCQ Money Credit Chapter 3 Class 10 Economics

MCQ’s For All Chapters – Economics Class 10th

1. There will be total 10 MCQ in this test.
2. Please keep a pen and paper ready for rough work but keep your books away.
3. The test will consist of only objective type multiple choice questions requiring students to mouse-click their correct choice of the options against the related question number.
4. No negative marking for incorrect choice.
5. Please click on “Finish the Test” when you want to exit.
6. All the best – Happy Studying.

1. Which one of the following statement is not true about ‘credit’?

In rural households, moneylenders are the biggest source of credit for the people.

Credit helps the farmers to meet the expenses of food grain production.

Cheap and affordable credit is crucial for the country’s development.

Credit can never push a person in debt trap.

Your comments:

Question 1 of 10

2. Professor Muhammad Yunus is the founder of which one of the following banks?

Commercial bank

Land development bank

Cooperative bank

Grameen bank

Your comments:

Question 2 of 10

3. Which of the following is crucial for the development of a country?

High rate of interest on credit

Cheap and affordable credit

Increase the lending activity of informal sector

Decrease the lending activity of formal sector

Your comments:

Question 3 of 10

4. Which of the following statements is most appropriate regarding the transactions made in money?

It promotes trade

It is the safest way

It is the easiest way

It is the cheapest way

Your comments:

Question 4 of 10

5. Banks provide a high rate of interest on which one of the following accounts?

Fixed deposits for long period

Savings account

Current account

Fixed deposits for short period

Your comments:

Question 5 of 10

6. Which of the following is a modern form of currency?

Silver

Gold

Paper notes

Copper

Your comments:

Question 6 of 10

7. Which of the following statement is not true about modern forms money?

It is a medium of exchange

Modern forms of money include paper notes

It include coins

It is made of valuable metals like gold and silver

Your comments:

Question 7 of 10

8. Which of the following is an essential feature of barter system?

It is an easy way

It promotes local market

It increases social field of an individual

It requires double coincidence of wants

Your comments:

Question 8 of 10

9. Which one of the following is the main source of credit for rich urban households in India?

Informal

Formal

Traders

Moneylenders

Your comments:

Question 9 of 10

10. How are banks extending loans to the public?

Borrow money from RBI

Cash deposits with banks

Loans from cooperatives

Credit from money lenders

Your comments:

Question 10 of 10

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