CBSE Class 10 Social Science Chapter 3 Money and Credit Multiple Choice Questions with Answers. MCQ Class 10 Economics Money and Credit with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 10 Economics Money and Credit MCQs with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions for Class 10 Economics Money and Credit with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 10 Social Science with Answers. You can also verify your answers from our provided MCQ Class 10 Economics Money and Credit with Answers. So, ace up your preparation with MCQ of Chapter 3 Economics Objective Questions.
MCQ Class 10 Economics Money and Credit with Answers - Set - 4
Question 1:
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.
Correct Answer – (A)
Question 2 :
The informal source of credit does not include which one of the following?
(a) Traders
(b) Friends
(c) Cooperative Societies
(d) Moneylenders
Correct Answer – (C)
Question 3 :
Banks use the major portion of the deposits to:
(a) Keep as reserve so that people may withdraw
(b) Meet their routine expenses
(c) Extend loans
(d) Meet renovation of bank
Correct Answer – (C)
Question 4 :
In which of the following systems exchange of goods is done without use of money?
(a) Credit system
(b) Barter system
(c) Banking system
(d) Collateral system
Correct Answer – (B)
Question 5 :
Which one of the following is a modem form of currency?
(a) Gold
(b) Silver
(c) Copper
(d) Paper notes
Correct Answer – (D)
MCQ Class 10 Economics Money and Credit with Answers
Question 6 :
Which one of the following is the new way of providing loans to the mral poor?
(a) Co-operative societies
(b) Traders
(c) Relatives and friends
(d) SHGs
Correct Answer – (D)
Question 7 :
What percentage of their deposits is kept as cash by the banks in India?
(a) 25%
(b) 20%
(c) 15%
(d) 10%
Correct Answer – (C)
Question 8 :
Banks provide a higher rate of interest on which of the following accounts?
(a) Saving account
(b) Current account
(c) Fixed deposits for long period
(d) Fixed deposits for very short period
Correct Answer – (C)
Question 9 :
Which among the following authorities issues currency notes on behalf of the government?
(a) Government of India
(b) The State Bank of India
(c) National Bank for Agriculture and Rural Development
(d) Reserve Bank of India
Correct Answer – (D)
Question 10 :
Which one of the following statements is most appropriate regarding transaction made in money?
(a) It is the easiest way.
(b) It is the safest way.
(c) It is the cheapest way.
(d) It promotes trade.
Correct Answer – (A)
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