Money Credit, Class 10 Economics NCERT Solutions

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.

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

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

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

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

Question 5 of 10

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

 Silver

 Gold

 Paper notes

 Copper

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

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

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

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

Question 10 of 10

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