Start learning →

Maharashtra SSC (Class 10) Economics — practice by topic

Browse 33 questions across 1 Economics topics. Choose what you want to revise, then open a question to check its answer and worked solution.

Start learning Maharashtra SSC (Class 10) with Quill →

Economics topics

Unit 1A: Basic Economic Concepts and Production Systems (33)

Try a Economics question

The first and foremost function of money is to act as:Read the answer and worked solution →Barter exchange is difficult because it requires:Read the answer and worked solution →The central bank of India, established in 1935, is the:Read the answer and worked solution →The Cash Reserve Ratio (CRR) is:Read the answer and worked solution →

Worked practice questions

The first and foremost function of money is to act as:

  1. a unit of account
  2. a standard of deferred payment
  3. a store of value
  4. a medium of exchange
Show answer and solution

Correct answer: D. a medium of exchange

Money's principal role is as a medium of exchange, removing the need for a double coincidence of wants in barter.

Open this question →

Barter exchange is difficult because it requires:

  1. a common currency
  2. a central bank
  3. high rates of interest
  4. a double coincidence of wants
Show answer and solution

Correct answer: D. a double coincidence of wants

Barter needs each party to want exactly what the other offers — a 'double coincidence of wants' — which is rare and costly to find.

Open this question →

The central bank of India, established in 1935, is the:

  1. NABARD
  2. State Bank of India
  3. Reserve Bank of India
  4. Securities and Exchange Board of India
Show answer and solution

Correct answer: C. Reserve Bank of India

India's central bank is the Reserve Bank of India, set up in 1935 SBI is a commercial bank.

Open this question →

How to practise

  1. Choose a Economics question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.