Money and Credit Class 10 MCQ Quiz – Test Your Knowledge

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Are you preparing for your CBSE Class 10 Social Science board exam? This MCQ quiz on "Money and Credit" will help you revise key concepts like forms of money, the role of credit, formal and informal sources of credit, and the impact of credit on the economy.

About the Quiz

  • Chapter Name: Money and Credit
  • Subject: Social Science (Economics)
  • Book: NCERT Class 10 Economics
  • Question Type: Multiple Choice Questions (MCQs)
  • Leaderboard: Yes (Check Your Rank!)

Why Take This Quiz?

Quick revision for CBSE exams
Based on NCERT textbook concepts
Leaderboard to track top performers

Click Below to Start the Quiz!

Chapter 3 - Money and Credit

1 / 15

Rehman is a poor agricultural labor and needs a loan for cultivation on his small piece of land.

Which of the following would DEFINITELY offer him a fair interest rate and flexible terms of credit?

2 / 15

Find the Incorrect option

3 / 15

Why is modern currency accepted as a medium of exchange?

4 / 15

Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods, or services in return for the promise of _____.

5 / 15

What is the role of Self-Help Groups (SHGs) in rural society?

6 / 15

What are the main terms of credit?

7 / 15

A porter making pots, wants to exchange pots for wheat. Luckily, he meets a farmer who has wheat and is willing to exchange it for pots. What is this situation known as?

8 / 15

Mohan is an agricultural laborer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 percent per month. Mohan repays the money by working physically for the landowner on his farmland. Over the years his debt will –

9 / 15

What are demand deposits?

10 / 15

In India, who issues the currency notes on behalf of the central government?

11 / 15

How do banks earn income from deposits?

12 / 15

How do SHGs help borrowers overcome the problem of lack of collateral?

13 / 15

What is the primary function of money?

14 / 15

Most agricultural laborers like Mohan depend upon loans from the informal sector. Which of the following statements about this sector is correct –

15 / 15

What is a potential negative economic implication of an economy without the concept of credit?

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Key Topics Covered in the Quiz

Functions of Money
Types of Credit – Formal & Informal
Role of Banks & Self Help Groups (SHGs)
Impact of Credit on Borrowers
Collateral and Terms of Credit

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