Because of this feature, banks are willing to lend to the poor women when organised in SHGs, even though they have no collateral as such. (ii) Getting a loan from a bank is time consuming and a little bit difficult too. (v) …………………… is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender. (iii) Formal sector loans are given at a low rate of interest. These ncert book chapter wise questions and answers are very helpful for CBSE exam. Since money acts as an intermediate in the exchange process, it is called a medium of exchange. These people are involved in different kinds of businesses of their own besides lending. The NCERT Solutions to the questions after every unit of NCERT textbooks aimed at helping students solving difficult questions. We hope the NCERT Solutions for Class 10 Social Science Economics Chapter 3 Money and Credit help you. A person holding money in hand can easily exchange it for any commodity or service that he/she wants. But the failure of crop made loan repayment impossible. Answer: This could lead to increasing debt and debt trap. Download NCERT Solutions for Class 10 Economics - Understanding Economic Development textbook in form of chapter-wise PDF. In this way people’s money is safe with the banks and it earns an amount as interest. Without this authority given by the Central Government the 10 rupee note is mere a piece of paper and nothing more than that. The next chapter deals with the sectors of the Indian economy. Credit, instead of helping a person improve his earnings, left his worse off. If cheaper loans are available for them, they will improve their condition by dint of this facility. Answer: (b) Members. Supposing Salim continues to get orders from traders. Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. Money and Credit Class 10 Questions and Answers Provided helps you to answer complex Questions too easily. For instance, small loans are provided to the members for releasing mortgaged land, for meeting working capital needs (e.g. Class-10 NCERT books solutions in PDF for free download includes Mathematics, Science, Social Science, English and Hindi. (i) We know that the banks maintain a minimum cash balance out of the deposits they receive. You will understand how to write the answers in the exam by following the model answers. Class 10 Social Science chapter wise NCERT solution for Social Science part 1 part 2 Part 3 and Part 4 for all the … To get out of it, he/she sells a part of the land. The NCERT Solutions for Class 10 Economics Chapter 3 provided in the PDF format provides a solid grip on the textbook knowledge. (i) Bank loans require proper documents and collateral. In the barter system, commodities are exchanged with commodities without the use of money. In India, the Reserve Bank of India issues currency notes on behalf of the Central Government. Answer: In India, the Reserve Bank of India issues currency notes on behalf of the central government. Below you will find the list of chapters with the NCERT Chapter names and its intext and exercise question and answers. What are these condition? NCERT Solutions for Class 9 Economics Textbook. Answer This can be better understood with an example. Download free printable worksheets for CBSE Class 10 Economics with important topic wise questions, students must practice the NCERT Class 10 Economics worksheets, question banks, workbooks and exercises with solutions which will help them in revision of important concepts Class 10 Economics. What do you understand by the medium of payment through cheque? Further problems for the repayment of the Central Government certain borrowers of Social Science or that! 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