10th Class Social Science Money and Credit Question Bank

done HOTS Question - Money and Credit Total Questions - 22

• question_answer1)
  Under barter system, both parties have to agree to sell and buy each other's commodities. What is it known as?
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• question_answer2)
  Since money acts as an intermediate in the exchange process therefore it is called as.
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• question_answer3)
  Before the introduction of coins, a variety of objects was used as money. Give two examples of such objects.
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• question_answer4)
  Modern currency is without any use of its own. What does modern currency include?
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• question_answer5)
  Who issues currency notes on behalf of the Central Government?
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• question_answer6)
  No individual in India can legally refuse a payment made in rupees. Why it is so?
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• question_answer7)
  Why deposits in the bank accounts are called demand deposits?
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• question_answer8)
  It is a paper instructing the bank to pay a specific amount from the person's account to the person in whose name it has been issued. Name it.
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• question_answer9)
  Why demand deposits, along with currency, constitute money in the modem economy?
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• question_answer10)
  Banks keep only a small proportion of their deposits as cash with themselves. Why?
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• question_answer11)
  What is the main source of income for banks?
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• question_answer12)
  It refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. Mention it.
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• question_answer13)
  In rural areas, the main demand for credit is for crop production. What does crop production involve?
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• question_answer14)
  Suppose Swapna could not repay the loan due to the failure of the crop, due to which she had to sell part of the land and repay the loan. Here, credit, instead of helping her to improve earnings, left her worse off. What is this situation called?
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• question_answer15)
  Whether credit would be useful or not depends on some factors. Mention them.
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• question_answer16)
  For making cheap and affordable credit available for people what should be done?
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• question_answer17)
  According to data of the year 2003, rich urban households took 90% of their loans from formal sources, whereas 10% from informal sources. Poor households in the urban areas took 85% of their loans from informal sources. What do these facts indicate?
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• question_answer18)
  Even when the banks are present, it is difficult for poor households to get a loan from the bank than taking a loan from informal sources? Why is it so?
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• question_answer19)
  How many members do SHGs normally have and what is the amount of saving per member?
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• question_answer20)
  After a year or two, if a SHG is regular in savings, it becomes eligible for availing loan from the bank. In whose name loan is sanctioned and for what purpose it is meant for?
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• question_answer21)
  Why banks are willing to lend to the poor women when organised in SHGs, even though they have no collateral as such?
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• question_answer22)
  Besides helping the women to become financially self-reliant how do SHGs benefit them?
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