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CBSE Class 10 Economic Development & Banking — practice questions — page 8

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 211–240 of 404.

The IHDI introduced in the 2010 Human Development Report adjusts the HDI for what?Read the answer and worked solution →What is the direct exchange of goods without using money called?Read the answer and worked solution →Which feature is essential for exchange in a barter economy?Read the answer and worked solution →A shoe maker wants wheat, but the farmer wants no shoes. Fix?Read the answer and worked solution →Which of these was used as money in very early India?Read the answer and worked solution →Which two items make up modern currency?Read the answer and worked solution →Why is modern currency accepted as a medium of exchange?Read the answer and worked solution →Who issues currency in India on behalf of the central government?Read the answer and worked solution →Under Indian law, what happens if someone offers payment in rupees?Read the answer and worked solution →What do banks pay depositors for keeping money with them?Read the answer and worked solution →What is a cheque?Read the answer and worked solution →Why are demand deposits treated as money?Read the answer and worked solution →Which two forms together make up money in the modern economy?Read the answer and worked solution →After a cheque payment from Salim to Prem, how do balances change?Read the answer and worked solution →Why do banks keep a small amount of cash from deposits?Read the answer and worked solution →What do banks do with the major part of their deposits?Read the answer and worked solution →Banks stand between which two groups?Read the answer and worked solution →What is the main source of income for a bank?Read the answer and worked solution →An agreement where a lender supplies money, goods or services for a promise of future payment is called what?Read the answer and worked solution →Salim, a shoe maker, took credit to meet which need of production?Read the answer and worked solution →A small farmer's crop fails and she must sell land to clear her loan. What is this called?Read the answer and worked solution →In rural areas, what is the main demand for credit?Read the answer and worked solution →On what does repayment of a farmer's crop loan crucially depend?Read the answer and worked solution →Whether credit helps or harms a borrower depends mainly on what?Read the answer and worked solution →A borrower pledges land as a guarantee for a loan. What is the land called?Read the answer and worked solution →Which is a common example of collateral used for borrowing?Read the answer and worked solution →In a cooperative, what do members do?Read the answer and worked solution →Besides banks, what is another major source of cheap rural credit?Read the answer and worked solution →Which lenders belong to the formal sector of credit?Read the answer and worked solution →Who supervises how informal lenders set interest rates?Read the answer and worked solution →

Worked practice questions

The IHDI introduced in the 2010 Human Development Report adjusts the HDI for what?

  1. Inflation rates
  2. Inequality levels
  3. Population growth
  4. Trade balances
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Correct answer: B. Inequality levels

The inequality-adjusted HDI shows actual human development after accounting for inequality.

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What is the direct exchange of goods without using money called?

  1. Deposit system
  2. Credit system
  3. Banking system
  4. Barter system
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Correct answer: D. Barter system

Goods exchanged directly for other goods, with no money in between, form a barter system.

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Which feature is essential for exchange in a barter economy?

  1. Prices fixed by a bank
  2. Cheque facility for traders
  3. Loans from a central bank
  4. Double coincidence of wants
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Correct answer: D. Double coincidence of wants

Each party must want exactly what the other offers, which is called double coincidence of wants.

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