Class 10 Economics Chapter 3 Mcq with Answers

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Hello students, Class 10 Economics Chapter 3 Mcq with Answers is what we have provided in this article. Class 10 Economics Chapter 3 Mcq with Answers will help candidates to practice for their upcoming exams. CBSE Class 10 Economics Chapter 3 Mcq are essential for candidates to practice and solve the paper to get confident about the upcoming exam. Class 10 Economics Chapter 3 Pdf will not only help you in the exams with time management but also with some of the repeated questions which will help you with the few marks which can lead to extra scores…!!! 

CBSE stands for Central Board of Secondary Education.

It conducts board exams for 10th and 12th standard for students every year.

It 10th Standard have 5 subjects English, Math, Social Science, Hindi, and Science.

CBSE Class 10 Economics Chapter 3 Mcq

Class 10 Economics Chapter 3 Mcq with Answers

1) Which of the following metals was never used as money?
a) Brass.
b) Copper.
c) Silver.
d) Platinum

Correct!

Wrong!

2) Find the wrong statement
a) India once used buffalo as the only exchange medium other than grains.
b) Credit sometimes plays a positive role.
c) Banks generally use up to 15% deposited cash for day-to-day use.
d) Stone with punch marks was the first exchanged medium

Correct!

Wrong!

3) Which of the following is not an advantage of a self-help group?
a) Grant of timely loans.
b) Reasonable interests.
c) A platform to discuss various issues.
d) Does not help women to become self-reliant.

Correct!

Wrong!

4) Which of the following can not be collateral for a bank?
a) Livestock.
b) Vehicles.
c) Buildings.
d) None of the above.

Correct!

Wrong!

5) Identify the formal source of credit.
a) Cooperative societies.
b) Moneylenders.
c) Traders.
d) Landlords.

Correct!

Wrong!

6) Which one of the following is not a modern form of money?
a) Demand deposits.
b) Paper currency.
c) Coins.
d) Precious metals.

Correct!

Wrong!

7) Which of the following is not a Term of Credit?
a) Interest rate.
b) Collateral.
c) Duration of loan.
d) Bonus.

Correct!

Wrong!

8) Which of the following is not true regarding the inconvenience of Barter exchange?
a) Lack of double coincidence of wants.
b) Absence of divisibility.
c) Difficulty in strong wealth.
d) Availability of money as a medium of exchange.

Correct!

Wrong!

9) The most available source of credit in a rural area in India is
a) Commercial banks.
b) Grameen banks.
c) Moneylenders.
d) Landlords.

Correct!

Wrong!

10) Cheap and affordable credit results in which of the following?
a) Slow economic growth.
b) Creating a debt trap.
c) Poverty.
d) Good economic growth.

Correct!

Wrong!

11) Deposits in bank accounts withdrawn on-demand are called
a) Fixed deposits.
b) Recurring deposits.
c) Demand deposits.
d) None of these.

Correct!

Wrong!

12) Which of the following banks is also known as the central bank?
a) Reserve bank of India.
b) World bank.
c) IMF.
d) Minting press.

Correct!

Wrong!

13) Indian village peoples are generally taking loan form
a) Informal sectors.
b) Formal sectors.
c) No specific date is available.
d) Both formal and informal sectors have the same amount of share.

Correct!

Wrong!

14) RBI regulates
a) Informal sectors.
b) Formal sectors.
c) Both (a) and (b).
d) It does not regulate loans disbursal methods.

Correct!

Wrong!

15) What do you mean by collateral?
a) It is the total sum of money with a person.
b) It is the things kept in the locker.
c) It is the guarantee given by the lender to the borrower.
d) It is the security to a lender until the loan is repaid.

Correct!

Wrong!

16) Debt trap will occur when
a) Income generated from credit is less than the amount to be repaid.
b) Income generated from debit is less than the amount to be repaid.
c) Income generated from credit is equal to the amount to be repaid.
d) Income generated from credit is surplus than therepaid amount to be repaid.

Correct!

Wrong!

17) Which is not the main source of credit from the following for rural households in India.
a) Traders.
b) Relatives & friends.
c) Commercial banks..
d) Moneylenders.

Correct!

Wrong!

18) The functioning of the formal sources of credit are supervised by
a) Government of India.
b) Reserve Bank of India.
c) Ministry of finance.
d) State bank of India.

Correct!

Wrong!

19) Which of the following is a major reason that prevents the poor from getting loans from the banks?
a) Lack of capital.
b) Not affordable due to the high rate of interest.
c) Absence of collateral security.
d) Absence of mediators.

Correct!

Wrong!

20) Which one of the following is Not an informal sector loan for a poor rural household in India?
a) Commercial banks.
b) Moneylenders.
c) Traders.
d) Landlords.

Correct!

Wrong!

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Class 10 Economics Chapter 3 Pdf

Class 10 Economics Chapter 3 Pdf Download  (Download)

1) How Many Chapters are there in CBSE Class 10 social science Subject?

Answer: Civics consists of 4 chapters.
Term 1 consists of chapter 1 (Power-sharing) and chapter 2 (Federalism)
Term 2 consists of chapter 6 (Political parties) and chapter 7 (Outcomes of democracy)

Economics consists of 4 chapters
Term 1 consists of chapter 1 (Development ) and chapter 2 (Sectors of the Indian Economy)
Term 2 consists of chapter 3 (Money and Credit) and chapter 4 (Globalization and the Indian Economy)

Geography consists of 6 chapters
Term 1 consists of chapter 1 (Resources and Development), chapter 3 ( Water Resources) and chapter 4 (Agriculture)
Term 2 consists of chapter 5 (Minerals and Energy Resources), chapter 6 (Manufacturing Industries) and chapter 7 (Life Lines of National Economy)

History consists of 4
Term 1 consists of chapter 1 (The Rise of Nationalism in Europe)
Term 2 consists of chapter 2 (. Nationalism in India), chapter 3 ( The Making of a Global World) and chapter 4 (. The Age of Industrialization)

2) Number of Chapters in CBSE Class 10 Civics Subject?

Answer: Civics subject has 4 chapters divided into two terms.

3) How are Internal Marks Divided in Social Science Class 10 CBSE Board?

Answer: Periodic Assessment  10 Marks 
Portfolio  5 Marks 
Subject Enrichment Activity  5 Marks 

4) What Comes Under Periodic Assessment

Answer:  Periodic Assessment Consist of 10 Marks Equally divided in:
Pen Paper Test 
Assessment using multiple strategies For example, Quiz, Debate, Role Play, Viva, Group Discussion, Visual Expression, Interactive Bulletin Boards, Gallery Walks, Exit Cards, Concept Maps, Peer Assessment, Self Assessment, etc.

5) What is Portfolio in CBSE Board INTERNAL ASSESSMENT

Answer: 
Classwork and Assignments  
Any exemplary work done by the student  
Reflections, Narrations, Journals, etc.  
Achievements of the student in the subject throughout the year  
Participation of the student in different activities like Heritage India Quiz 

6) What is Subject Enrichment Activity In Cbse Class 10 Social Science Internal Exams?

Answer: In this Activity Every student has to compulsorily undertake any one project on the following topics: 
Consumer Awareness
Social Issues 
Sustainable Development.

7) What is the Total Weightage of Civics in Class 10 Cbse Social Science Subject?

Answer: Class 10 CBSE Social Science Carries 100 Marks (Theory 80 + Practical 20) Out of Which 20 Marks are allotted to Civics. 

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