CBSE- Class 10 - Economics - Ch3 Money & Credit

Concept  Maps and MCQs on Money and Credit

1. Barter System: Exchange of goods without the use of money.
2. Double Coincidence of wants

3. Money as Medium of Exchange

4. Bank Loan

MCQs:
Q1: Which one of the following is not an informal sector of credit?

(a) Traders
(b) SHGs
(c) Money Lenders
(d) Employer

Q2: Grameen Bank is a success story of 

(a) India
(b) Bangladesh
(c) Nepal
(d) China

Q3: Which of the following can be considered as the modern form(s) of money?

(a) Currencies
(b) Drafts
(c) Cheques
(d) All of these

Q4: Which of the following households constitutes the largest segment of borrowers in the formal sector of credit?

(a) Poor households
(b) Rich households
(c) Well-off households
(d) Households with few assets

Q5(CBSE 2011): Which one of the following authorises money as a medium of exchange?

(a) Reserve Bank of India
(b) Self Help Groups
(c) The Central Government
(d) The President of India

Q6(CBSE 2011): What do you mean by collateral?

(a) It is the total sum of money with a person
(b) It is the things kept in the locker
(c) It is the guarantee given by the lender to the borrower.
(d) It is the security to a lender until the loan is repaid

Q7: Banks do not give loans:

(a) to small farmers
(b) to marginal farmers
(c) to industries
(d) without proper collateral and documents


Answers:
1: (b) SHGs
2: (b) Bangladesh
3: (d) All of these
4: (b) Rich households
5: (a) Reserve Bank of India
6: (c) It is the guarantee given by the lender to the borrower.
7: (d) without proper collateral and documents