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Uttarakhand Board Class 10 Money and Credit — practice questions

Explore 18 free Money and Credit questions in Uttarakhand Board Class 10 Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Money and Credit questions and exercises with answers

Showing questions 1–18 of 18.

Money in its modern form isRead the answer and worked solution →Currency notes in India are issued byRead the answer and worked solution →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 →True or false: money and creditRead the answer and worked solution →Formal or informal credit?Read the answer and worked solution →

Worked practice questions

Money in its modern form is

  1. currency notes plus bank deposits accepted as a medium of exchange
  2. only metal coins
  3. only gold ornaments
  4. only foreign currency
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Correct answer: A. currency notes plus bank deposits accepted as a medium of exchange

1. Modern money includes currency (notes and coins) and demand deposits with banks. 2. Both are accepted as a medium of exchange to settle transactions. 3. Cheques drawn against demand deposits are used as money. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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Currency notes in India are issued by

  1. State Bank of India
  2. Reserve Bank of India
  3. Finance Ministry directly
  4. Indian Mint
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Correct answer: B. Reserve Bank of India

1. RBI is the central bank and is solely authorised to issue currency notes in India. 2. It acts on behalf of the central government. 3. Coins are minted at the Indian Mint. _Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_

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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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