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Curriculum-aligned learning paths for students in Classes 6-12.

CBSE
Class 10
Social Science
Understanding Economic Development
MONEY AND CREDIT
Question Bank

What does fiat money mean?

Single Answer MCQ
Q-00045389

What does fiat money mean?

1

Money backed by physical commodities

2

Currency that has no intrinsic value but is accepted by society

3

Gold and silver coins

4

Money that must be exchanged for goods

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Q1.

What is the role of credit in economic development?

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Q2.

Explain the concept of formal and informal sources of credit.

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Q3.

What is the primary function of modern money?

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Q4.

Which of the following is NOT considered modern money?

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