farmers as members. (c) Relatives and friends Going through NCERT Solutions Class 10 Economics Social Science Chapter 3: Money and Credit will surely help students to score good marks in Social Science. Download NCERT Solutions for Class 10 Economics - Understanding Economic Development textbook in form of chapter-wise PDF. [Delhi 2012] Explain? (a) Measure of value (a) The banks might be unwilling to lend to small farmers because the farmers usually take crop loan at the beginning of the season and repay the loan after harvest. (c) Higher Answer: “Reserve Bank of India” and “Guaranteed by the Central Government” is written on the top of a 10 rupee note. There is no denying the fact that the ultimate goal of our life is earning more. (a) Cooperative Bank Manav needs a loan to set up a small business. b. After a year or two, if the SHG is regular in savings, it becomes eligible for availing loan from (c) Cooperative Societies How many members a typical Self-Help Group Should have? Thus in order to repay, the small farmers sell a part of the land. Answer: Manav will decide whether to borrow from the bank or the moneylender on the basis of the following terms of credit: Depending on these factors and of course, easier terms of repayment, Manav has to decide whether he has to borrow from the bank or the moneylender. Free PDF download of NCERT Solutions for Class 10 Maths Chapter 3 Exercise 3.3 (Ex 3.3) and all chapter exercises at one place prepared by expert teacher as per NCERT (CBSE) books guidelines. Contribution of commercial banks as a source of credit for rural households in India in 2003 was Organisation which supervises the credit activities of lenders in the informal sector. (a) Debt-loss A typical Self Help Group comprises 15-20 people from the same neighbourhood who save some money from their daily wages and collect them together. In India, about 80 per cent of farmers are small farmers, who need credit for cultivation. NCERT Solutions for Class 10 Economics. (b) What are the other sources from which the small farmers can borrow? They could set up new industries or trade in goods. (c) Senior citizens [CBSE (CCE) 2012] Therefore, credit is crucial for the country’s development. (a) It promotes local market. Higher interest means the borrower has to pay a major portion of his earnings to repay the interest and principal of the loan. _______________ is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender. To provide timely loans for a variety of purposes. NCERT Solutions for Class 10 Social Economics Chapter 2 Sectors of Indian Economy. People can open accounts in banks and banks make use of that money to fulfil the loan requirements of the people. (d) Reserve Bank of India, 4. How do banks mediate between those who have surplus money and those who need money? (d) (i) and (iv), 34. Answer In situations with high risks, credit might create further problems for the borrower. RBI maintains a periodic report of other banks regarding the amount loaned to people. Question 3: How do banks mediate between those who have surplus money and those who need money? Discuss. Anything which is generally accepted by the people in exchange of goods and services These solutions will help students to express their answers in an effective way, during board exams. (a) 25 % He needs to analyse whether he has all the eligible documents required by the banks to get his loan approved. What is written on top? To find a suitable buyer to sell the sacks of rice in exchange for cereals would be very tough. (c) (ii) and (iii) Swapna is unable to repay the moneylender and she is caught in debt. Deposits in the bank accounts can be withdrawn on demand, therefore these deposits are called NCERT Solutions for Class 10 Economics Chapter 2 Sectors of the Indian Economy are created by our experienced faculty after doing thorough research. Answer: Banks mediate between those who have surplus funds (the depositors) and those who are in need of funds (the borrowers) by lending money to people who are in need. The moneylenders or the agricultural traders charge a much higher interest on loans. [AI 2012] These CBSE Class 10 Economics Important Questions have a crucial role to play in the lives of CBSE Class 10 Students. The formal credit should be distributed equally to benefit the poor from the cheaper loan. She has to sell a part of the land to pay off the debt. Banks charge a higher interest rate on loans than what they offer on. Answer: This is also known as a debt-trap. 17. (b) Current account [CBSE (CCE) 2012] (d) (i) and (iv), 37. Answer: (d) Mode of repayment, 35. (c) Store of value (c) Central Bank Free PDF download of NCERT Solutions for Class 10 Maths Chapter 3 Exercise 3.3 (Ex 3.3) and all chapter exercises at one place prepared by expert teacher as per NCERT (CBSE) books guidelines. Professor Muhammad Yunus is the founder of which one of the following banks? (iv) Silver (a) 14 – 19 Which one of the following is a modern form of currency? (i) In an SHG most of the decisions regarding savings and loan activities are taken by The small farmers have to sell part of the land to repay the loan that is why banks do not want to give loans to small farmers. For example, it is no longer necessary for the farmer to look for a book publisher who will buy his cereals at the same time sell him books. (iii) Obtains loan in cash as advance payment Why is this necessary? Provide a platform to discuss and act on a variety of social issues such as education, health, nutrition, domestic violence, etc. This currency is issued on behalf of the central government, and these two are the only authorities which are responsible for issuing notes and currency in India. Question 13: Choose the most appropriate answer. (d) Suggest some ways by which small farmers can get cheap credit. (b) Barter system Formulae Handbook for Class 10 Maths and Science. (c) Documentation Salim, the shoe manufacturer, to meet expenses obtains loans from two sources. With the class 10 NCERT solutions, the quality of the study materials is being effectively maintained. Download NCERT Solutions for Class 10 Economics Chapter 1 Development in PDF here. They charge a minimum rate of interest from the borrowers. Answer: (a) 50 percent (c) Bank Which function of money is highlighted here? (a) 30 % The NCERT Solutions to the questions after every unit of NCERT textbooks aimed at helping students solving difficult questions. Answer: Money is a fascinating subject and children are full of curiosity towards the topic. (a) Formal sector They generally charge 5 percent per month whereas the banks charge about 10 to 15 percent per annum. Loans are not just given to profit-making organisations but also to small cultivators and small scale industries. Apart from this, there are small scale industries, business and various other sectors where credit can help people and ultimately result in the development of the country. Class 9 Economics Chapter 3 is Poverty As a Challenge, which many students may find a bit difficult. (b) Money This sometimes leads to debt trap for the borrowers. This monitoring is necessary to ensure that equality is preserved in the financial sector, and that small industry are also given an outlet to grow. What is written on top? (i) (b) In India, the Reserve Bank of India issues currency notes on behalf of the central government. People need loans for different reasons and to meet this requirement credit is very important. (d) Loans, 23. (a) Private sector If he has exchanged his cereals for money, he can purchase any goods or service which he needs. 7. The Informal source of credit does not include which one of the following? (b) 80 percent The formal and the informal sector of loans are given along with examples and case studies and also how the self-help groups help in the development of the country have been given in this chapter. CBSE Economics Class 9 Ncert Solutions Chapter 3 Poverty as a challenge questions are explained by the expert Social Science teacher and as per NCERT (CBSE) guidelines. (c) 20 – 25 (d) whole. Free downloadable chapter wise NCERT solutions for class 10 Social Science in PDF format to help students in homework and score good marks in test and exams. 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