Explain. There are two parts of monetary policy, viz, currency and credit. (a) Vehicle of the borrower (b) Building of the borrower (c) Both (a) and (b) (d) None of these. How does the use of money make it easier to exchange things? A bank charges interest on the loan which it gives to its creditors. (ii) Deposits with Banks. Instructions:-All the questions are compulsory. Q.2. Every loan agreement specifies terms and conditions; regarding the rate of interest and term of payment. Economics is the study of the circulation of money in the market.In order to understand economics properly, we first need to understand the terms of the subject. Multiple Choice Questions for 10 Economics, Multiple Choice Questions for 10 Social Science, NCERT Class 10 Economics Multiple Choice Questions, NCERT Class 10 Economics Objective Type Questions, NCERT Class 10 Social Science Multiple Choice Questions, NCERT Class 10 Social Science Objective Type Questions, CBSE Class 12 History 2020-21 Sample Paper, CBSE Class 10 Hindi B Board Exam 2021 Paper Pattern, Punjabi Syllabus 2020-2021 Revised For CBSE Class 10, The Mughal Empire: 7th CBSE Social Science Chapter 04, Rulers and Buildings: 7th CBSE Social Science Chapter 05, Towns, Traders and Craftpersons: 7th CBSE SST Chapter 6, Devotional Paths to the Divine: 7 CBSE Social Studies Ch 08. Students who are in class 10th or preparing for any exam which is based on Class 10 Economics can refer to NCERT Economics Book for their preparation. The coins were initially made of precious metals; like gold and silver. Important Questions are taken from board papers, CBSE Sample Papers, NCERT Textbook and good questions from private publishers. The Money and Credit Class 10 NCERT Solution are formulated in a simple style that enables a student of any calibre to understand them pretty easily. Moreover, one can also buy a demand draft from a bank to make payments. A debit card allows you to make payments from the amount which is lying in your bank account. Double Coincidence of wants: The double coincidence of wants is the major drawback of the barter system. Collateral: An asset which is owned by the borrower and is used as a guarantee to a lender until the loan is repaid is called the collateral. The founder of Grameen Bank, Mohammad Yunus was conferred with Nobel Prize in 2006 for his efforts at improving the lot of the poor. 1,866 Views. The solved questions answers in this Money And Credit - Olympiad Level MCQ, Class 10 SST quiz give you a good mix of easy questions and tough questions. Answer. Appearing Students of Class 10 Exams can download MCQ on Money and Credit Class 10 with Answers from here. (a) It is the easiest way. 1. Quiz complete. Class 10 students definitely take this Money And Credit - Olympiad Level MCQ, Class 10 SST exercise for a better result in the exam. You will be able to view the results only after attempting all the questions. Answer : The two examples of informal sector of … Quick revision online notes covering each and every topic of the chapter. Many farmers need to borrow to buy seeds, fertilizers, farm equipment etc. View Solution. March 23, 2019 Here we present Money and Credit Class 10 Important Questions and Answers Pdf Social Science Economics Chapter 3, We have collected all the important questions which came in the previous year’s exams. About 30% of loan requirements are covered from moneylenders by the rural households in India according to the survey of 2003. Give any two examples of informal sector of credit. Hurry! 11. Traditional forms of money which included gold and silver had its own value whereas modern currency is without any used of its own. A person can deposit in the … Initially, coins came into use. 1. Central bank has a monopoly of issuing notes and thereby can control the volumes of currency. You are advised not to use calculator or any other help while answering. Payment through credit/debit card is done electronically and this removes the need of carrying cash. The interest rate charged by a bank no loans is higher than the interest rate given by it on deposits. Which one of the following statements is most appropriate regarding transaction made in money? 10. Answer Key of MCQ: 1(iii) 2(i) 3(iv) 4(i) 5(i) 6(ii) << Back to NCERT Solutions of Class 10th Economics Find more@learnfatafat 2. Such people are usually at the mercy of informal lenders. 3.3 Sources of Credit 3.3 Sources of Credit - Test. Modern forms of money include currency – paper notes and coins. 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