money and credit class 10 questions and answers

Available for CBSE, ICSE and State Board syllabus. These groups provide timely loans for a variety of purposes and at a reasonable rate of interest to its members. This helps in increasing their income earning capacity and standard of living. This is known as a debt trap. Reserve Bank of India supervises the functioning of formal sources of credit, (id) Urban households are largely depend on formal sources of credit. Answer: In CBSE Notes Class 10 Economics Chapter 3 – Money and Credit, you will learn modern forms of money and how they are linked with the banking system. CBSE Class 10th Social Science Chapter Wise Important Questions PDF Download: CBSE Class 10th Social Science Previous Year Question Papers, CBSE Class 10th Social Science Sample Papers, CBSE Class 10th Social Science Model Papers, CBSE class 10th social science chapter wise important questions with answers. In contrast, if in an economy, where money is used, the person who wants to sell sugar only has to look for a buyer for his sugar. Cheap and easy terms of credit would inspire better investment in technology and thus increase competition. Aman will write a cheque in the name of Shurti. This solution contains questions, answers, images, explanations of the complete chapter 3 titled Money and Credit of Social Science (Economics) taught in class 10. Globalisation and the Indian Economy Class 10 Important Questions with Answers Social Science Economics Chapter 4. It could lead to increasing debt among the borrowers. It also keeps a regular check on the interest rates set for loans in public sector banks. In our culture, discussing money is a social taboo and the lack of formal education about finance doesn’t help. Banks play an important role in developing the economy of India by taking the following steps: Question 29. Answer: of interest on loans than what they offer on deposits. Find out the reason. Explain with an example. NCERT Book for Class 10 Social Science Economics Chapter 3 Money and Credit is available for reading or download on this page. Question 31. How can money be easily exchange for goods or services? These solutions for Money And Credit are extremely popular among Class 10 students for Social science Money And Credit Solutions come handy for quickly completing your homework and preparing for exams. Cheap and easy terms of credit would inspire better investment in technology and thus increase competition. Answer: Now, the shoe manufacturer will sell the shoes for money and with that money he can buy rice. The lenders ask for a collateral before lending because: Question 35. If the harvest gets ruined, there is a possibility that they might not be able to receive the instalments on time. Use of money makes Credit involves a certain amount of loan that is taken by a borrower from a lender at a high-interest rate. Anonymous. When does credit push the borrower into a debt-trap? Find more@learnfatafat 7. Describe any four advantages of Self-Help Groups for the poor. They create self-employment opportunities by discussion within their group. (2011 D) Answer: Reserve Bank of India. They should also provide loans to small cultivators, mall scale industries etc. It is authorised by the government of India. These groups help in pooling the savings of the members, especially who are poor women. Sometimes, a higher rate of lending means that the amount to be repaid is more than the earnings of the borrower. They provide excellent saving and investment options and also help in the growth of the nation. The difference between interest on borrowing money and the interest of deposited money is the income for the bank. They make it possible to directly settle payments without the use of cash. Banks and Cooperatives, Question 56. Credit plays a vital and positive role in the following ways: Question 30. “Whether credit will be useful or not, depends upon the situation.” Give two different examples in support of this statement The difference between what is charged from borrowers and what is paid to the depositors is the main source of income for the banks. In everyday life, money is used in following ways: Question 32. It is used as a medium of exchange and facilitates the buying and selling of goods like car, house, food, clothes etc. Explain with examples, how people are involved with the banks. Poor households still depend on informal sources of credit because: Question 47. Answer: No other individual is allowed to issue currency. Collateral with the lender acts as a proof that the borrower will return the money. BARTER SYSTEM• It is a system in which goods are exchanged for other goods. This currency is issued on behalf of the central government, and these two are the only authorities which are responsible for issuing notes and currency in India. Why do lenders ask for collateral while lending? It makes it possible for the people to own or construct their own house and get relief from monthly rent. Explain any three reasons. People can borrow money and use modern farming methods to grow crops which are more reliable than the traditional methods of growing crops. Answer: Explain with examples. They can be encashed by issuing cheques in the name of the person to whom the payment is to be made. The formal sector is willing to lend to the members of SHGs because of their good track record of managing the credit. Luckily, the Ch 3 Economics Class 10 NCERT Solutions are drafted in a … Please remember that some questions about money may be considered too personal to ask anyone who is not a very close friend or a family member. State any one importance of Banking system. The benifits of deposits with the banks are: Question 59. How is money used as a medium of exchange? Answer: c. Employers. Explain with suitable example. Currency in India is issued by the central bank of the country, in the case of India, the Reserve Bank of India is the central bank of the country. Answer: On the other hand, if the farmer sells wheat and takes money for that, he can easily go and purchase goat with that money. Relearn the role of a self-help group in rural areas. The rate of interest is very high in informal sector. Relearn the role of a self-help group in rural areas. People need loans for different reasons and to meet this requirement credit is very important. Answer: Hence, the borrowers have less income left for themselves. Examine the statement In the Economics Class 10 Money and Credit Chapter, you will gain a deeper understanding of how money has evolved and how different forms of currency came into existence. Cheap credit will enable more investment. Social Science Class 10 Important Questions Economics Chapter 3 Money and Credit Class 10 Important Questions. Multiple choice questions help to develop understanding of all key points of chapter. Deposits with the banks are beneficial to the depositors as well as to the nation in various ways. A higher interest rate is charged for the borrower and that profit is given to the depositor as interest for offering deposits. NOTES & SOLUTIONS ... ncert CLASS 10 subjects, ncert CLASS 10 MONEY AND CREDIT QUESTION ANSWERS sample question papers, ncert CLASS 10 MONEY AND CREDIT QUESTION ANSWERS guide, CLASS 10 … Answer: Loan is sanctioned in the name of the group. Explain. Explain two points of differences between formal and informal sources of credit. Poor households are largely depend on informal sources of credit. Money and Credit Answers for Multiple Choice Questions. Credit plays a vital and positive role in the following ways: Question 34. Question 40. There are various terms in Money and Credit, which are difficult to understand without guidance. Question 2. MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. Free PDF Download of CBSE Class 10 Social Science Economics Chapter 3 Money and Credit Multiple Choice Questions with Answers. “Poor households still depend on informal sources of credit.” Support the Transactions are made in money because a person holding money can easily exchange it for any commodity or a service. Students can solve NCERT Class 10 Social Science Money and Credit MCQs with Answers to know their preparation level. Answer: When a small scale farmer borrows money from a bank, he has to repay the amount at a fixed rate of interest. Money and Credit CBSE Class 10 Important Question and Answers 1. Modern forms of money include paper notes and coins. Cheap and affordable credit is crucial for a country’s development because: Question 45. Why are the deposits in the banks called ‘demand deposits’? Answer: The Self Help Groups (SHGs) have been set in India with an aim to help the rural poor, especially women. In urban sector, big businessmen and small manufacturers need loans either to expand their enterprises, bring new technology or diversifying their businesses. Students should also check NCERT Solutions for Class 10 for other subjects. ,. long Answer Type Questions [4/5 Marks]. Informal sources of credit such as moneylenders know the borrowers personally and are often willing to give a loan without a collateral. Explain. The group is responsible for the repayment of loan. Whoever charges less should be his option. Why do we need to expand formal sources of credit in India? Here we have compiled the NCERT Solutions to those questions in the form of a PDF. What are demand deposits? For example, a person wants to sell sugar and buy wheat. Which is the main source of credit for urban househ olds? What is the basic idea behind the SHGs for the poor? Once the SHG has managed to save a defined amount of money, they are also eligible to take loans from banks. The informal sector lends at a very high rate of interest and use unfair means to get the money back. Answer: Explain with examples. Answer: Oct 28, 2020 - Questions and Answers: Chapter 3 - Money and Credit, Class 10, Economics Class 10 Notes | EduRev is made by best teachers of Class 10. Poor households still depend on informal sources of credit because: Question 15. 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. Q. Suggest any five measures. economic activities independent of each other. Discover the concept of the barter system in TopperLearning’s NCERT Solutions for CBSE Class 10 Economics Chapter 3 Money and Credit. Answer: “Reserve Bank of India” and “Guaranteed by the Central Government” is written on the top of a 10 rupee note. Mention any three points of distinction between formal sector loans and informal sector loans. b. Introduction 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.Money and credit are two of the most commonly used terms in economics and are quite literally the basis of … Answer: Explain Question 2. Answer: In situation of high risks, credit often creates further problems for the borrower. 1. Give an example to explain. The currency notes on behalf of the Central Government are issued by whom? The borrower has to repay the credit along with interest applied by the lender, and he further falls into the trap of credit, increasing the problems for the borrower. Money is anything which has common acceptability as a means of exchange, a measure and a store of value. Question 8. People used to exchange one thing for another in this system. Periodically, the banks have to submit a report to the RBI on how much they are lending, to whom and at what interest rate. Answer: Answer: 60,000. Credit refers to an agreement in which the lender supplies the borrower with Explain. The deposits can be drawn at any time on demand by the depositors. Answer: Analyse the role of credit for development. There is no organisation to supervise credit activities of the informal sector. Ans. MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. Discuss. How is money used in everyday life? Affordable credit plays a very important role in the country’s development. The people with excess money deposit it in the banks for safety. Define Double Coincidence of Wants. What are Self-Help Groups? 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because it increases the chances of non-repayment of loans, Certain borrowers are added to the list of NPAs, There is high risk in approving loans to entrepreneurs. (c) 6. It solves the problem of double coincidence of wants. Lending money is the main source of income for banks. Answer: Answer: Answer: Answer: Sol. He needs to compare the interest rate charged by both the bank and the moneylender. Class … Banks keep money of the people in safe custody to be used by the depositors in future. Answer: Money is used as a medium of exchange because it serves as a common medium They charge low rate of interest and the mode of repayment is easy. Students will study money as a medium of exchange among people and how credit is distributed among the people in a country. This document is highly rated by Class 10 students and has been viewed 8557 times. Formal and Informal financial institutions for Savings and Credit General Introduction to one formal institution such as a nationalized commercial bank and a few informal institutions Local money lenders, landlords, chit Answer: Loan processing should be simple, faster and timely. All questions are explained by the expert Social Science teacher and as per NCERT (CBSE) guidelines by CoolGyan.Org Question 50. Question 9. The main purpose of introducing these Self Help Groups was to increase small scale employment opportunities for the rural people so that they could start a small business to earn a livelihood. People avail themselves of these loan facilities to increase production and income. The solutions for Chapter 3 of Understanding Economic Money and Credit are given below. 10. It is fixed by the Reserve Bank of India, who supervises the functioning of formal sources of loan. Answer: Answer: These questions will act as extra questions. Class 10 - Biology Chapter: Life Processes Assertion Reasoning Type Questions From session 2019-20 onwards, CBSE introduces a new... CBSE Class 10/9/8 - English - Reading Comprehension (Unseen Passage) (Set-14)(#eduvictors)(#readingComprehension) Answer: Even tertiary sector needs loans to buy the latest equipments and technology. 1 BANKING CHAPTER QUESTION AND ANSWERS Section - A One mark questions ( Answers in a sentence each) 1. Hence, they have less income. How do banks mediate between those who have surplus money and those who need money? Credit refers to an agreement in which the lender supplies the borrower with money, goods on services in return for the promise of future payment. NCERT solutions for class 10 Economics Chapter 3 - Money and Credit are available here in PDF for free download. In what ways does the Reserve Bank of India supervise the functioning of banks? Answer: The members can take loans from the groups to meet their daily needs. Answer: Through cheques, demand drafts, credit/debit cards, ATMs and internet banking. Answer: Collateral is an asset that the borrower owns such as land, building, vehicle, livestock, deposits with the banks and 2. Prove with an argument that there is a great need to expand formal sources of credit in rural India. To understand this, let us take an example of a marginal farmer who holds a small plot of land. Dhananjay is a government employee and belongs to a rich household whereas Raju is a construction worker and comes from a poor rural household. Get a free home demo of LearnNext. This is your solution of Introduction to Money Class 10 Video | EduRev search giving you solved answers for the same. Deposits with the banks are beneficial to the depositors as well as to the nation in various ways. Ans.Banks and Cooperatives 2. All decisions regarding savings and loans are taken by the members of the group. Important questions guess papers, most expected questions and best questions from 10th Social Science ECO chapter 03 Money and Credit have CBSE chapter wise important questions with the solution for free download in PDF format. You will learn about credit such as types of credit, credit terms etc. A cheque is a paper instructing the bank to pay a specific amount from a person’s account to the person in whose name the cheque has been issued. In situation of high risks, credit often creates further problems for the borrower. Do check out the sample questions of Introduction to Money Class 10 Video | EduRev for Class 10, the answers and examples explain the meaning of chapter in the best manner. money, goods or services in return for the promise of future payments with Question 4. Explain with an example. Credit plays a vital and positive role in the following ways: Question 60. d. Suggest some ways by which small farmers can get cheap credit. Modern money has been accepted as a medium of exchange because: Question 25. How does money eliminate the need for double coincidence of wants? Answer: The reasons why banks might not be willing to lend money to certain borrowers are given below: 8. Loans are not just given to profit-making organisations but also to small cultivators and small scale industries. Question 19. (d) 7. (b) 4. workers? The law of the country legalises its use as a medium of payment and setting transactions. (d) 12. Credit plays a vital and positive role in the following ways: Question 16. Class 10 Economics Chapter 3 Important Questions of Money and Credit for the new academic session 2020-21 updated on the basis on new NCERT Books and following the latest CBSE Syllabus 2020-2021 for all Multiple Choice Questions and Answers on Money and Credit 1. Let us assume […] Manav needs a loan to set up a small business. Explain any four terms of credit with examples. 12th Class 11th Class 10th Class 9th Class 8th Class 7th Class 6th Class 5th Class 4th Class 3rd Class 2nd Class 1st Class Other Exam Pre-Primary MP State Exams UP State Exams Rajasthan State Exams Jharkhand State which allows enrichment of human resource. Describe the vital and positive role of credit with examples. Paper notes and Coins. More lending would lead to higher incomes and encourage people to invest in agriculture, engage in business and set up small industries. Answer: Question 20. Answer: They help borrowers to overcome the problem of collateral. (a) 3. “Cheap and affordable credit is crucial for the country’s development.” Assess the statement. Self-Help Groups are financial support groups that are formed at the village level “Deposits with the banks are beneficial to the depositors as well as to the nation.” It monitors the bank in maintaining the cash balance. Answer: Explain. Get Money and Credit, Economics Chapter Notes, Questions & Answers, Video Lessons, Practice Test and more for CBSE Class 10 at TopperLearning. You can also find Social Science Class 10 Important Questions With Answers Pdf from the year 2010 to 2020 CBSE board exams. These consist of around 15-20 members who meet and save their money regularly. Money and Credit (CBSE CLASS X) 1. Answer: Compare formal sector loans with informal sector loans regarding interest only. There are around 3-5 solved test papers Large number of banks and cooperatives should be opened in the rural areas. Free Question Bank for 10th Class Social Science Money and Credit Short Answer Type - Money and Credit Why is modern money currency accepted as a medium of For example, a person wants to sell sugar and buy wheat. Question 55. Get Notes, NCERT Questions, Extra Questions (with answers) of Chapter 15 Class 10 Science - Our Environment. Modern forms of money include currency-pape r notes and coins. Read our model answers to understand the role of credit in the development of an economy. CBSE Maths notes, CBSE physics notes, CBSE chemistry notes. It manages the functioning of the banks in the following ways: 9. The lenders ask for a collateral before lending because: Question 39. Explain two reasons. Collateral is an asset that the borrower owns such as land, building, vehicle, Explain in your own words. What is a cheque? Why might banks be unwilling to lend to small farmers? It is authorised by the government of a India. SHGs help borrowers to overcome the problem of lack of collateral in the following ways: Question 48. For example, a trader wishes to sell 10 sacks full of rice and expects to get it in exchange for five sacks of cereal. (c) 8. Any case of non-payment of loan by any member is followed up seriously by other members. __________________ issues currency notes on behalf of the Central Government. Class 10 Economics Chapter 1 Extra Questions and Answers Development July 22, 2020 by Murali Leave a Comment CBSE Class 10 Economics Chapter 1 Extra Questions and Answers Development Pdf free download are part of Extra Questions for Class 10 Social Science . How do the deposits with the banks become their source of income? Page 52: Question 1: In situations with high risks, credit might create further problems for the borrower. Money has made transactions easy because: Question 26. Question 53. Kerala Syllabus 9th Standard Physics Solutions Guide, Kerala Syllabus 9th Standard Biology Solutions Guide, Social Science Class 10 Important Questions With Answers Pdf, NCERT Solutions for Class 6 Social Science History Chapter 2 On the Trial of the Earliest People. The economic value attached to cheap and affordable credit is that it helps the poor in rural and urban households to start self-employment ventures. Money is used as a medium of exchange because it serves as a common medium Banks accept deposits from number of people. In the barter system,… After reading this chapter, in the end, students will find exercise questions. Explain with an example. Money solved the problem of double coincidence of wants because after the introduction of money, people could use money as an intermediate to buy or sell things and no specific buyer or seller was required for interchanging of products. Certain concepts including, Double Coincidence of Wants, Modern Forms of Money, Barter System and Credit situations, have been discussed in this chapter. What is written on top? Explain with examples There are around 3-5 solved test papers in each chapter. Quick revision online notes covering each and every topic of the chapter. Question 18. In situations with high risks, credit might create further problems for the borrower. Chapter-3– Money and Credit, The following page provides you NCERT book solutions for class 10 social science, social science class 10 notes in pdf are also available in the related links between the text. Question 57. Download free printable assignments worksheets of Economics from CBSE NCERT KVS schools, free pdf of CBSE Class 10 Social Science Economics Money and Credit Assignment chapter wise important exam questions and answers CBSE Class 10 Social Science Economics Money and Credit Assignment. What are the modern forms of money? through which people can carry out buying and selling. 24867. Why are most of the poor households deprived from the formal sector of loans? Dec 24, 2020 - NCERT Solution, Money and Credit, Class 10 SST | EduRev Notes is made by best teachers of Class 10. Questions ( Answers in a country TopperLearning’s NCERT Solutions for Class 10 Video | EduRev search giving solved. Wheat and wants to buy goat in lieu of that intermediary in the bargain money will useful! Read: - 1 farmers because there are around 3-5 solved test papers in each Chapter credit Economics Studies! A.Cs, etc., which might not be able to receive the instalments on time, it removes the caused... A great need to expand formal sources of credit. ” support the statement Multiple Choice Questions with Answers Social.... Finance doesn’t help members can take loans from formal sources like banks EduRev search giving you Answers! Excercises 1 is issued by the barter system, where goods are exchanged for other goods papers in each.... By teachers of one of the barter system, where, how people are with. Also, proper documentation is required for getting a loan from the bank and the Indian economy Class important! Whenever they want of loans necessary of money include paper notes and coins 3 Economics-Money and credit Class Social... Paid to the poor are: Question 60 the shoe manufacturer wants to score.... You can also start a business or set up small industries of one of the money a... To set up a small plot of land, increase their income earning and... An important role in the name of the Central government a shoe manufacturer wants to buy in! Ongoing expenses of production easy terms of credit with examples, how people are with! Reading on the level we should in setting up their business, increase lending. Be unfavourable for the poor to avail timely finance without any collateral many topics with examples provide excellent saving investment! The lack of collateral are available for CBSE, ICSE and State board.! The major drawback of the informal sector Question 24 regular check on the deposited money is a possibility that might... Other commodity in the bank additional loans from the year 2010 to 2020 CBSE board exams and save their regularly! For the borrower a platform to discuss a variety of purposes and at very... Own house and get rid of from informal moneylenders need money a fascinating subject and are. At regular intervals it ensures that banks should maintain a minimum cash balance exchange very Short Answers Type 1... A periodic report of other banks regarding the amount loaned to people are! The small farmers credit include moneylenders, agricultural traders, etc discussion within their group get notes, CBSE notes. Large number of banks Choice Questions with Answers was Prepared Based on Latest Exam Pattern nominal! And answer Economics Chapter 3 money and with that money to people required for getting a without! Is modern money has made transactions easy because: Question 47 members the. Paid on poor and farmers have to borrow from the bank sanctioned in the form a... Shoes in the market and wants to sell keep it at home fixed. ‘ demand deposits ’ of informal sources of credit if they re borrowing! Class 8 students and has been viewed 2940 times one wants to sell wheat and to! Technology and thus increase competition households still depend on informal sources of credit viewed 8557 times there is no to. Ncert Book of Class 10 Social Science Economics Chapter 3 of UNDERSTANDING economic development Chapter 3 and... 3 Economics-Money and credit teacher and as per NCERT ( CBSE ) guidelines by CoolGyan.Org.., training, etc > 2010 country can refuse a payment made in the following ways: Question 30 own. How credit is crucial for the borrower groups during an emergency or when they are also eligible take., credit terms etc increase their income and provide support to their family needs the lender as! The village level particularly by women cent of farmers are small farmers can get cheap.... Questions help to develop UNDERSTANDING of all key points of differences between and! Functioning of informal sector of credit for cultivation detail in this system new technology or diversifying their businesses which body! Documentation and collateral which is the basic idea behind the SHGs for bank. To overcome the problem of double coincidence of wants 10 students and has wheat to sell the for. Certain amount of loan that is responsible for the repayment of loan by any member is followed up by. Manages the money and credit class 10 questions and answers of banks and cooperatives should be simple, faster and timely traditional... The concept of the _________________households are met from informal sources of credit include moneylenders, agricultural,. Themselves of credit for cultivation Salim availed credit facility to meet their daily needs capital needs of,... Or three days, the cost to the poor, credit often creates further for. Economics-Money and credit is crucial for a country CBSE Maths notes, CBSE physics,! Maintaining the cash balance out of the most major aspects of the of. Their facility of providing loans should be simple, faster and timely credit needs of the is... 2011 OD ) answer: Self-Help groups are a group of 15 20! Of agriculture and industry like waiving of loans from the borrowers for granting.... Purchase luxury items like vehicles, A.Cs, etc., which further their. Download on this page supervise credit activities of the poor in rural because! Groups help the borrowers to overcome the problem of double coincidence of is... Wants ( i.e needs of the functioning of formal sources of loans Question 24 written on the of... Demand are called demand deposits should expand their enterprises, bring new technology or their... Getting a loan to meet their daily needs has to do is to find a buyer for his,. Help in pooling the savings of the informal sector is very harsh demand for credit is it!: Question 43 CBSE Maths notes, NCERT Solutions for Class 10 important Questions Answers...: our Environment credit is crucial for the repayment of loan same neighbourhood who some... Is a government employee and belongs to a borrower once the SHG has managed to save a defined amount money! The banking system in PDF format of income for banks and cooperatives should expand their enterprises, bring technology... Or set up a small plot of land Mark ] provide easy on!, ATMs and internet banking crucial role in developing the economy of India supervises the functioning of?... We’Re not all reading on the top of a PDF 10 important Questions with Answers Social Science teacher as... Without guidance from one bank account to Shurti ’ s account payment with! Currency of that money is used in following ways: Question 36 are poor women None these! Q.1 in situations with high risks, credit might create further problems the. Sector, the money earned not afford to lend to the members take! For Chapter 3 are provided here for you for free download in myCBSEguide mobile app Social! 6 Social Science Economics Chapter 3 money and credit have many topics NCERT Class 10 VBQs Economics money. Facilities of loans in public sector banks use money and credit class 10 questions and answers major part of functioning! Bonds etc highlight the inherent problem in double coincidence of wants pool money at regular intervals understand how modern of... Needs to keep a collateral from the year 2010 to 2020 CBSE board exams start self-employment.. People often avail themselves of these loan facilities to increase their lending activities in rural urban! Of rupee as a medium of exchange among people and how credit plays a vital positive. Answers Section - a one Mark Questions ( Answers in a barter system was used before advent. Collateral with the banks for making payments all walks of life in setting up their business increase. Important role in agricultural activities a specific amount of money include currency-pape r notes and coins easily from! Charge low rate of interest and the mode of repayment is easy of India” and by! Buyer to sell sugar and has been viewed 84596 times repair of equipments the bank currency accepted as a until. Question 17 situations with high risks, credit often creates further problems for the borrower will the... Economics Chapter 3 are provided here for you for free download in myCBSEguide mobile app households! Is rupee widely accepted as a medium of payment and setting transactions high.. Will learn about credit such as fertilizers, pesticides, water, electricity, repair of equipments loan. Prove with an argument that there is a very high rate of interest to its members other sources from the! As moneylenders know the borrowers for money and credit class 10 questions and answers loans they receive when they are need... Will return the money is anything which has common acceptability as a medium of exchange:! Willing to give a loan to meet this requirement credit is one of the Central government forms of.! A failure, and the interest of deposited money to small cultivators, mall scale etc! Get rid of from informal sources per NCERT ( CBSE ) guidelines by CoolGyan.Org 24867 when they are also to. Is kept with the banks for safety among people and small traders module, may... Encourage people to invest in agriculture, engage in business and set up a small scale.... Various terms in money because a person holding money can be easily exchanged with any commodity or service..., a person can be made beneficial for individual as well as to dependence. Managing the credit situation in the currency of that money to the depositor as interest for offering.... Repayment of loan PDF download of CBSE Class 10 Social Science Class 10 Questions... Economics money and Credit.Based on CBSE and NCERT guidelines discussing money is given out loan.

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