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CBSE Class 10 Economic Development & Banking — practice questions — page 3

Explore 404 free Economic Development & Banking questions in CBSE Class 10 Social Science. Open each question or exercise to read its content, reference answers and available explanation.

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Economic Development & Banking questions and exercises with answers

Showing questions 61–90 of 404.

A 'double coincidence of wants' is necessary inRead the answer and worked solution →Approximately what percentage of bank deposits do Indian banks keep as cash reserves?Read the answer and worked solution →Collateral isRead the answer and worked solution →Self-Help Groups (SHGs) typically haveRead the answer and worked solution →Formal sources of credit in India includeRead the answer and worked solution →The Reserve Bank of India supervisesRead the answer and worked solution →A demand deposit can be withdrawnRead the answer and worked solution →In which decade did the Indian banking sector see major nationalisation?Read the answer and worked solution →'Debt-trap' refers to a situation whereRead the answer and worked solution →Cooperative societies serving as lenders are common inRead the answer and worked solution →Which of these is NOT a function of modern money?Read the answer and worked solution →Microcredit through Self-Help Groups primarily benefitsRead the answer and worked solution →Higher rate of interest in informal lending is risky becauseRead the answer and worked solution →Bank loans to farmers come under which category of formal lending?Read the answer and worked solution →Globalisation refers toRead the answer and worked solution →Multinational Corporations (MNCs) are companies thatRead the answer and worked solution →Foreign trade refers toRead the answer and worked solution →A trade barrier isRead the answer and worked solution →Foreign Direct Investment (FDI) isRead the answer and worked solution →Liberalisation in India began significantly inRead the answer and worked solution →Which is NOT a benefit of globalisation in India?Read the answer and worked solution →The WTO (World Trade Organization) aims atRead the answer and worked solution →MNCs often spread production across countries becauseRead the answer and worked solution →'Fair globalisation' would create opportunities for all and ensure benefits areRead the answer and worked solution →Joint production with a local company allows an MNC toRead the answer and worked solution →An export tax is a tax onRead the answer and worked solution →Globalisation has been particularly painful forRead the answer and worked solution →If a government raises tariffs on imported steel, this is an example ofRead the answer and worked solution →Indian IT and BPO services exports are an example ofRead the answer and worked solution →World Consumer Rights Day is observed onRead the answer and worked solution →

Worked practice questions

A 'double coincidence of wants' is necessary in

  1. a banking economy
  2. a money economy
  3. a barter economy
  4. a digital economy
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Correct answer: C. a barter economy

1. Barter requires both parties to want exactly what the other has. 2. This double coincidence of wants is hard to find, limiting barter. 3. Money removes this requirement by serving as a common medium. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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Approximately what percentage of bank deposits do Indian banks keep as cash reserves?

  1. 100%
  2. 5%
  3. 50%
  4. 15%
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Correct answer: D. 15%

1. Indian banks keep roughly 15% of their deposits as cash reserves. 2. The remainder is loaned out to borrowers. 3. This fractional-reserve practice underlies modern banking. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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Collateral is

  1. an asset pledged by the borrower as security against a loan
  2. interest charged by a bank
  3. loan-application fee
  4. tax on interest
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Correct answer: A. an asset pledged by the borrower as security against a loan

1. Collateral: an asset that the borrower pledges as security. 2. Land, building, vehicle, livestock, deposits etc. are common collateral. 3. If the borrower defaults, the lender can sell the collateral to recover the loan. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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