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UPSC CSE Agriculture — practice questions — page 2

Explore 89 free Agriculture questions in UPSC CSE Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Agriculture questions and exercises with answers

Showing questions 31–60 of 89.

In barter, both parties must want each other's goods. This requirement is called:Read the answer and worked solution →Because money acts as an intermediate in the exchange process, it is called a:Read the answer and worked solution →Before coins were introduced, Indians used which items as money?Read the answer and worked solution →Modern currency, though of no use in itself, is accepted because it is:Read the answer and worked solution →Who issues currency notes in India on behalf of the central government?Read the answer and worked solution →Bank deposits that can be withdrawn on demand are called:Read the answer and worked solution →A paper instructing a bank to pay a specific amount from one account to another is a:Read the answer and worked solution →Banks in India these days hold about what share of their deposits as cash?Read the answer and worked solution →Banks mediate between depositors with surplus funds and:Read the answer and worked solution →A bank's main source of income is the gap between interest charged on loans and interest:Read the answer and worked solution →An agreement in which a lender supplies money or goods for a promise of future payment is:Read the answer and worked solution →Salim the shoe manufacturer took loans to meet which need before the festival season?Read the answer and worked solution →Swapna, whose groundnut crop failed and whose debt grew, illustrates a:Read the answer and worked solution →An asset the borrower owns and pledges as guarantee until a loan is repaid is:Read the answer and worked solution →Interest rate, collateral, documentation and mode of repayment together form the:Read the answer and worked solution →Megha's house loan of Rs 5 lakh carried an annual interest rate of:Read the answer and worked solution →The village moneylender charged Shyamal five per cent a month, which equals what per year?Read the answer and worked solution →Loans from banks and cooperatives belong to which sector of credit?Read the answer and worked solution →Moneylenders, traders, employers, relatives and friends are which kind of lenders?Read the answer and worked solution →Which body supervises the functioning of formal sources of loans in India?Read the answer and worked solution →What share of loans taken by poor urban households comes from informal sources?Read the answer and worked solution →Catch the informal lendersRead the answer and worked solution →Pop the forms of moneyRead the answer and worked solution →Run the credit numbersRead the answer and worked solution →Slice the money wordsRead the answer and worked solution →Formal or informal creditRead the answer and worked solution →Sort the credit conceptsRead the answer and worked solution →Type the numberRead the answer and worked solution →Money and credit bingoRead the answer and worked solution →Food security means availability, accessibility and:Read the answer and worked solution →

Worked practice questions

In barter, both parties must want each other's goods. This requirement is called:

  1. Double coincidence of wants
  2. Common medium of exchange
  3. Standard terms of credit
  4. Bank demand deposit rule
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Correct answer: A. Double coincidence of wants

1. A shoe maker must find a farmer wanting shoes. 2. This is the double coincidence of wants. 3. Money removes the need for it. _Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._

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Because money acts as an intermediate in the exchange process, it is called a:

  1. Legal tender
  2. Medium of exchange
  3. Store of value
  4. Unit of account
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Correct answer: B. Medium of exchange

1. Everyone prefers payment in money. 2. Money is a medium of exchange. 3. It can be swapped for any commodity. _Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._

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Before coins were introduced, Indians used which items as money?

  1. Grains and cattle
  2. Shells and beads
  3. Silk and spices
  4. Gold and silver
Show answer and solution

Correct answer: A. Grains and cattle

1. Metallic coins of gold, silver and copper came later. 2. Grains and cattle served as money. 3. Punch-marked coins may be 2,500 years old. _Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._

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