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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

Why is it necessary for banks ...

Single Answer MCQ
Q-00045434

Why is it necessary for banks to exist within a modern economy?

1

To provide only savings options

2

To hoard currency

3

To facilitate loans and deposits

4

To eliminate all forms of cash

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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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