NCERT Economics Class 10 Chapter 3 Money and Credit CBSE Board Sample Problems Multiple Choice Question (For CBSE, ICSE, IAS, NET, NRA 2022)

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Which of the following does not belong to formal means of credit

1. Bank Co-operative

2. Societies

3. Employees

4. None of the above


Currency is called the medium of regulation because -

1. It can be easily changed for any item or service.

2. This relieves the need for double coincidence.

3. It acts as a mediator in the exchange process.

4. All of the above


A substitute of cash and cheque is

1. Credit card

2. Coin

3. Currency

4. Demand deposit


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

1. Future Payment

2. Payment Made

3. No Payment

4. Security


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

1. Reserve Bank of India

2. State Bank of India

3. Finance Minister of India

4. None


Money acts as an intermediate in the exchange process hence it is called a

1. Store of value

2. Standard of measurement

3. Medium of exchange

4. None