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UP Board Class 10 Economic Development & Banking — practice questions — page 3

Explore 110 free Economic Development & Banking questions in UP Board 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 110.

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 →Indian National Consumer Day is observed onRead the answer and worked solution →Right to Information (RTI) Act was enacted inRead the answer and worked solution →Which of these is NOT a recognised consumer right?Read the answer and worked solution →The original Consumer Protection Act in India was passed inRead the answer and worked solution →

Worked practice questions

Formal sources of credit in India include

  1. shopkeepers and friends
  2. moneylenders only
  3. banks and cooperatives
  4. informal employers
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Correct answer: C. banks and cooperatives

1. Formal sector: banks (commercial, cooperative) and other regulated lenders. 2. Informal: moneylenders, traders, employers, relatives, friends. 3. Formal sector charges lower interest and is regulated by RBI. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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The Reserve Bank of India supervises

  1. all formal-sector lenders including commercial banks
  2. only foreign banks
  3. only state-owned firms
  4. only the stock market
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Correct answer: A. all formal-sector lenders including commercial banks

1. RBI supervises and monitors all formal-sector lenders, including commercial banks and cooperatives. 2. It enforces reserve requirements and lending norms. 3. Informal lenders are outside its regulatory ambit. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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A demand deposit can be withdrawn

  1. only after one year
  2. only with prior notice of 30 days
  3. on demand, generally by cheque or ATM
  4. only if the bank approves
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Correct answer: C. on demand, generally by cheque or ATM

1. Demand deposits can be withdrawn at any time on demand. 2. Account holders use cheques, ATMs and online banking to access them. 3. This makes them effectively money. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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