Sst (Economics)
Explore Economics with Our Quiz
Test your knowledge on economics with our comprehensive quiz designed for learners of all levels. Dive into topics such as banking, currency, and credit systems while enhancing your understanding of the economic landscape.
Participating in this quiz will help you:
- Understand key economic concepts
- Identify sources of credit
- Learn about the banking system in India
Q1 :- Who issues the currency notes in India?
Currency notes are issued by the Finance Commission.
All the nationalized banks can issue the currency notes.
Only Reserve Bank of India can issue currency notes.
Any individual or organization can issue cur¬rency notes with the permission of the govt.
Q2 :-A typical Self Help Group usually has
100-200 members
50-100 members
Less than 10 members
15-20 members
Q3 :-What do the banks do with the deposits which they accept from the customers?
Banks use these deposits for charitable activities.
Banks use a major portion of deposits to extend loans.
Banks use deposits to give bonus to their employees.
Banks use deposits to set up more branches in the country.
Q4 :-An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to
Debt
Deposit
Credit
Collateral
Q5 :-What is the main source of income of a bank?
Bank charges that the depositors pay for ; keeping their money safe is the main ; source of the bank’s income.
The difference between what is charged from the borrowers and paid to the depositors is the main source of bank’s income.
Banks earn huge amounts of money by investing the money of the depositors in various company shares.
The Government of India gives huge amounts of money to the banks to help their smooth functioning
Q6 :-Money-lenders usually demand a ‘security’ from the borrower. What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc.?
Deposit
Collateral
Credit
Guarantee
Q7 :- Which body (authority) supervises the functioning of formal sources of loans?
Finance Ministry
Head Office of each Bank
Reserve Bank
Cooperative Societies
Q8 :- Which among the following options will be the cheapest source of credit in rural areas?
Bank
Cooperative Society
Money-lender
Finance Company
Q9 :-In which country is the Grameen Bank meeting the credit needs of over 6 million poor people?
Bhuta
Sri Lanka
Bangladesh
Nepal
Q10 :-Which among the following banks issues currency notes on behalf of the Central Government in India?
RBI
State Bank of India
Bank of India
Central Bank of India
Q11 :- Which of the following is not an informal source of credit?
Money-lender
Relatives and Friends
Commercial Banks
Traders
Q12 :- Which one of the following is a modem form of currency?
Gold
Silver
Copper
Paper notes
Q13 :-. In which of the following systems exchange of goods is done without use of money?
Credit system
Barter system
Banking system
Collateral system
Q14 :- Banks provide a higher rate of interest on which of the following accounts?
Saving account
Current account
Fixed deposits for long period
Fixed deposits for very short period
Q15 :-Why is currency accepted as a medium of exchange?
Because the currency is authorised by the government of the country.
Because it is liked by the people who use it.
Because the use of currency has its origin in ancient times.
Because the currency is authorised by the World Bank.
Q16 :-The full form of SHG is:
Station House Guard
State Housing Guarantee
Self Happy Groups
Self Help Groups
Q17 :- Which one of the following is the new way of providing loans to the mral poor?
Co-operative societies
Traders
Relatives and friends
SHGs
Q18 :-What percentage of their deposits is kept as cash by the banks in India?
25%
20%
15%
10%
Q19 :-The founder of Grameen bank of Bangladesh is:
Mohammad Yunus
Amartya Sen
Mohammad Salim
None of the options
Q20 :-About 85 percent of the loans taken by poor households in the urban areas are from:
Formal sources
Informal sources
Mixed sources
None of the above
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