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![NCERT solutions for Social Science (Economics) - Understanding Economic Development [English] Class 10 chapter 3 - Money and Credit - Shaalaa.com](/images/9788174506559-social-science-economics-understanding-economic-development-english-class-10_6:85bdf698b6c240edbabfd600621e35fb.jpg "NCERT solutions for Social Science (Economics) - Understanding Economic Development [English] Class 10 chapter 3 - Money and Credit")
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Solutions for Chapter 3: Money and Credit
Below listed, you can find solutions for Chapter 3 of CBSE NCERT for Social Science (Economics) - Understanding Economic Development [English] Class 10.
NCERT solutions for Social Science (Economics) - Understanding Economic Development [English] Class 10 3 Money and Credit Exercises [Pages 52 - 53]
In situations with high risks, credit might create further problems for the borrower. Explain.
How does money solve the problem of double coincidence of wants? Explain with an example of your own.
How do banks mediate between those who have surplus money and those who need money?
Look at a 10 rupee note. What is written on top? Can you explain this statement?
Why do we need to expand formal sources of credit in India?
What is the basic idea behind the SHGs for the poor? Explain in your own words.
What are the reasons why the banks might not be willing to lend to certain borrowers?
In what ways does the Reserve Bank of India supervise the functioning of banks? Why is this necessary?
Analyse the role of credit for development.
Manav needs a loan to set up a small business. On what basis will Manav decide whether to borrow from the bank or the moneylender? Discuss.
In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.
Why might banks be unwilling to lend to small farmers?
In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.
What are the other sources from which the small farmers can borrow?
In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.
Explain with an example of how the terms of credit can be unfavourable for the small farmer.
In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.
Suggest some ways by which small farmers can get cheap credit.
Majority of the credit needs of the _________ households are met from informal sources.
__________costs of borrowing increase the debt-burden.
__________issues currency notes on behalf of the Central Government.
Banks Charge a Higher Interest Rate on Loans than What They Offer on __________.
__________is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.
In a SHG, most of the decisions regarding savings and loan activities are taken by ______.
Bank.
Members.
Non-government organisation.
Formal Sources of Credit Does Not Include
Banks.
Cooperatives.
Employers.
NCERT solutions for Social Science (Economics) - Understanding Economic Development [English] Class 10 3 Money and Credit Additional Activity [Page 53]
The following table shows people in a variety of occupations in urban areas. What are the purposes for which the following people might need loans? Fill in the column.
|
Occupations |
Reason for needing a Loan |
|
Construction worker |
- |
|
Graduate student who is computer literate |
- |
|
A person employed in government service |
- |
|
Migrant labourer in Delhi |
- |
|
Household maid |
- |
|
Small trader |
- |
|
Autorickshaw driver |
- |
|
A worker whose factory has closed down |
- |
Next, classify the people into two groups based on whom you think might get a bank loan and those who might not. What is the criterion that you have used for classification?
Solutions for 3: Money and Credit
NCERT solutions for Social Science (Economics) - Understanding Economic Development [English] Class 10 chapter 3 - Money and Credit
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Concepts covered in Social Science (Economics) - Understanding Economic Development [English] Class 10 chapter 3 Money and Credit are Role of Money in an Economy, Formal and Informal Financial Institutions for Savings and Credit, Formal Institution - Nationalized Commercial Bank, Informal Institutions - Local Money Lenders, Landlords, Self Help Groups, Chit Funds and Private Finance Companies.
Using NCERT Social Science (Economics) - Understanding Economic Development [English] Class 10 solutions Money and Credit exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in NCERT Solutions are essential questions that can be asked in the final exam. Maximum CBSE Social Science (Economics) - Understanding Economic Development [English] Class 10 students prefer NCERT Textbook Solutions to score more in exams.
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