Case study Questions in Class 10 Social Science Economics Chapter 3 are very important to solve for your exam. Class 10 Social Science Chapter 3 Case Study Questions Class 10 Economics have been prepared for the latest exam pattern. You can check your knowledge by solving case study-based questions for Class 10 Social Science Chapter 3 Money and Credit
In CBSE Class 10 Social Science Paper, Students will have to answer some questions based on Assertion and Reason. There will be a few questions based on case studies and passage-based as well. In that, a paragraph will be given, and then the MCQ questions based on it will be asked.
Money and Credit Case Study Questions With Answers
Here, we have provided case-based/passage-based questions for Class 10 Social Science Chapter 3 Money and Credit
Case Study/Passage Based Questions
In recent years, people have tried out some newer ways of providing loans to the poor. The idea is to organize rural poor, in particular women, into small Self Help Groups (SHGs) and pool (collect) their savings. A typical SHG has 15-20 members, usually belonging to one neighbourhood, who meet and save regularly. Saving per member varies from ₹25 to ₹100 or more depending on the ability of the people to save. Members can take small loans from the group itself to meet their needs. The group charges interest on these loans but this is still less than what the moneylender charges. After a year or two, if the group is regular in savings, it becomes eligible for availing loan from the bank. The loan is sanctioned in the name; of the group and is meant to create self-employment opportunities for the members. For instance, small loans are provided to the members for releasing mortgaged land, for meeting working capital needs (e.g. buying seeds, fertilizers, raw materials like bamboo and cloth), for housing materials, for acquiring assets like a sewing machine, handlooms, cattle, etc.
(i) Fill in the blanks from the given options: In Self Help Groups, …….. decide the savings and loan activity option.
(a) Reserve Bank of India (b) Members
(c) Co-operatives (d) Rural Banks
Answer: (b) Members
(ii) 85% of the loans taken by the poor households in the rural areas are from which of the following sources?
(a) Cooperatives (b) Government Bank
(c) Informal Sources (d) Local bank
Answer: (c) Informal Sources
(iii) Which of the following aspect is correct regarding the Self Help Groups?
(a) They have mainly encouraged rural women to obtain credit.
(b) They have helped women to become self-reliant.
(c) They have helped women to discuss on relevant issues like health.
(d) All of the above
Answer: (d) All of the above
(iv) Why Self Help Groups (SHG) are growing in popularity?
(a) As they provide loans at a nominal rate of interest.
(b) They create self-employment opportunities for its members.
(c) Both (a) and (b)
(d) As members of SHG’s require collateral to get loans.
Answer: (c) Both (a) and (b)
(v) Assertion (A): Members can take small loans from the group itself to meet their needs through Self-Help Groups.
Reason (R): SHGs are the building blocks of the organization of the rural poor.
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is true, but R is false (d) A is false, but R is true
Answer: (b) Both A and R are true, but R is not the correct explanation of A
(vi) Which is one of the major reasons that prevent the poor from getting bank loans?
(a) Absence of collateral
(b) Lack of availability of banks in rural areas
(c) Lack of approach towards formal organizations.
(d) All of the above
Answer: (a) Absence of collateral
Case Study 2: The chapter “Money and Credit” in Class 10 Economics explores the concepts of money and credit and their significance in economic transactions. It delves into the functions of money as a medium of exchange, unit of account, and store of value. The chapter discusses different forms of money, including currency notes, coins, and digital money. It also examines the role of banks in providing credit and the importance of credit in facilitating economic activities. The chapter covers topics such as formal and informal sources of credit, terms, and conditions of borrowing, and the concept of collateral. Additionally, it highlights the role of the Reserve Bank of India (RBI) as the central bank in regulating the money supply and maintaining stability in the financial system.
Which chapter in Class 10 Economics focuses on money and credit?
a) Chapter 1: Development
b) Chapter 3: Money and Credit
c) Chapter 5: Consumer Rights
d) Chapter 7: Globalization and the Indian Economy
Answer: b) Chapter 3: Money and Credit
What are some of the functions of money discussed in the chapter?
a) Only medium of exchange
b) Only unit of account
c) Only store of value
d) Medium of exchange, unit of account, and store of value
Answer: d) Medium of exchange, unit of account, and store of value
What are some of the sources of credit discussed in the chapter?
a) Only formal sources of credit
b) Only informal sources of credit
c) Both formal and informal sources of credit
d) No sources of credit are discussed
Answer: c) Both formal and informal sources of credit
What is the role of the Reserve Bank of India (RBI) discussed in the chapter?
a) Providing credit to individuals and businesses
b) Regulating the money supply and maintaining stability in the financial system
c) Issuing currency notes and coins
d) Promoting consumer rights and protection
Answer: b) Regulating the money supply and maintaining stability in the financial system
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