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Question Practice

What is a key difference between formal and informal credit sources?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

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

What is a key difference betwe...

Single Answer MCQ
Q-00015900

What is a key difference between formal and informal credit sources?

1

Formal sources charge lower interest rates

2

Informal sources lack regulatory supervision

3

Formal sources have a wider reach

4

Informal sources can only lend to relatives

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What is the role of credit in economic development?

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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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