Class 10 Economics Chapter 3 Money And Credit Quiz 11 (14 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Formal sources of credit do not include

Correct Answer: C) Non governmental organisations.

2. No individual or organisation is allowed to issue currency

Correct Answer: A) True.

3. Money can be best described as

Correct Answer: B) Medium of exchange.

4. Who has power to sign One rupees paper note in India?

Correct Answer: C) Finance Secretary.

5. Loans provided by the institutions that are monitored by RBI is called

Correct Answer: B) Informal loan.

6. Number of Reserve Banks in a country is

Correct Answer: C) One.

7. Cattle was used as commodity money in

Correct Answer: D) Greece.

8. The deposits having a fixed period of maturity are called as

Correct Answer: B) Time deposits.

9. What is the full form of SHG

Correct Answer: C) Self help group.

10. The legal tender of money is called as Yuvan in

Correct Answer: A) China.

11. In India how many measures of money supply are used to measure the monetary stock, and they are

Correct Answer: D) 4;M1, M2, M3, M4.

12. It is important that the formal credit is distributed more equally so that

Correct Answer: A) Poor can benefit from cheaper loans.

13. What eliminates the need for double coincidence of wants?

Correct Answer: C) Money.

14. Banks provide a higher rater of interest on which one of the following accounts?

Correct Answer: C) Fixed deposits for long periods.