Class 10 Social Science MCQ Chapter 10 Monkey & Banking, SCERT Class 10 Social Science Multiple Choice Question Answer As Per New Syllabus to each chapter is provided in the list of SEBA Class 10 Social Science Objective Type Question Answer and Short Type Question Answer so that you can easily browse through different chapters and select needs one. Class 10 Social Science MCQ Chapter 10 Monkey & Banking can be of great value to excel in the examination.
SCERT Class 10 Social Science MCQ Chapter 10 Monkey & Banking
Class 10 Social Science MCQ Chapter 10 Monkey & Banking covers all the exercise questions in Assam Board SCERT Textbooks. Class 10 Social Science MCQ Chapter 10 Monkey & Banking provided here ensures a smooth and easy understanding of all the concepts. Understand the concepts behind every chapter and score well in the board exams.
Monkey & Banking
Chapter – 10
POLITICAL AND ECONOMICS
Multiple Choice Questions & Answers
1. Which of the following is an Agricultural Development Bank?
(a) NABARD.
(b) SBI.
(c) RBI.
(d) IDBI.
Answer: (a) NABARD.
2. Which of the following currencies is an Unregulated currency?
(a) Paper Currency.
(b) Deposit Currency.
(c) Metallic Coins.
(d) Command Currency.
Answer: (b) Deposit Currency.
3. The Central Bank of India is-
(a) State Bank of India.
(b) Union Bank of India.
(c) Reserve Bank of India.
(d) United Bank of India.
Answer: (c) Reserve Bank of India.
4. State Bank of India is basically a
(a) Central Bank.
(b) Cooperative Bank.
(c) Commercial Bank.
(d) Agricultural Development Bank.
Answer: (c) Commercial Bank.
5. Reserve Bank of India was established in
(a) 1928.
(b) 1945.
(c) 1935.
(d) 1947.
Answer: (c) 1935.
6. IDBI Bank was established in
(a) 1946.
(b) 1864.
(c) 1846.
(d) 1964.
Answer: (d) 1964.
7. NABARD was established in
(a) 1962.
(b) 1966.
(c) 1972.
(d) 1982.
Answer: (d) 1982.
8. The Head Quarter of SIDBI is at
(a) Lucknow.
(b) Delhi.
(c) Kolkata.
(d) Rajasthan.
Answer: (a) Lucknow.
9. Which of the following bank was first established in India in 1970?
(a) Reserve Bank of India.
(b) Bank of Hindustan.
(c) Industrial Development Bank of India.
(d) Small Industries Development Bank of India.
Answer: (b) Bank of Hindustan.
10. Main functions of money are-
(a) 10.
(b) 5.
(c) 4.
(d) 3.
Answer: (c) 4.
11. In wider sense, how many type of money-
(a) 2.
(b) 4.
(c) 5.
(d) 6.
Answer: (a) 2.
12. Cheque is a—
(a) Paper Money.
(b) Token Money.
(c) Legal tender money.
(d) non-legal tender money.
Answer: (d) non-legal tender money.
13. The standard money of India is
(a) Rupee.
(b) Dollar.
(c) Pound.
(d) Yen.
Answer: (a) Rupee.
14. ‘Bank of Venice’ was established in
(a) Itali.
(b) Rome.
(c) France.
(d) Russia.
Answer: (a) Itali.
15. Guwahati Bank was established in
(a) 1920.
(b) 1926.
(c) 1930.
(d) 1932.
Answer: (b) 1926.
Very Short & Short Type Questions and Answers
1. What is barter system?
Answer: The system in which goods are exchanged for goods is called barter system.
2. What is the name of the Central Bank of India?
Answer: The Reserve Bank of India.
3. In which year 19 commercial banks of India were nationalised?
Answer: In 1969, 19 July.
4. What is the first stage in the evolution of money?
Answer: Barter system is the first stage in the evolution of money.
5. What is the second stage in the evolution of money?
Answer: Animals were the second stage in the evolution of money.
6. What is the third stage in the evolution of money?
Answer: Metallic standard as gold and silver were the third stage in the evolution of money.
7. What is the fourth stage in the evolution of money?
Answer: Coinage such as gold and silver were the fourth stage in the evolution of the money.
8. What is the fifth stage in the evolution of money?
Answer: Paper money is the fifth stage in the evolution of money.
9. Who was Geoffrey Crowther?
Answer: Geofferey Crowther was a monetary economist.
10. Who used the term ‘Bank’ in place of Monte?
Answer: The Cermans used the term ‘Bank’ in place of Monte.
11. Where was the first bank set up in India?
Answer: The first bank set up in India was in 1770.
12. Name the first bank set up Assam?
Answer: The first bank of Assam was Gauhati Bank set up in 1926.
13. Name the first bank of India.
Answer: The first bank of india was Bank of Hindustan.
14. What is Central Bank?
Answer: The Central Bank is the head of all the banks in a country.
All the banks are to operate as per in structions issued by the Central Bank.
15. Which is the world’s oldest Central Bank?
Answer: The Riksbank of Sweden is the world’s oldest Central Bank.
16. Which bank is called the bankers bank?
Answer: The Central Bank is the bankers Bank.
17. Which bank is the financier, advisor and agent to the government?
Answer: The central bank is the financeir advisor and agent to the government.
18. When was Riks bank set up?
Answer: Riks bank set up in a the year 1665.
19. When was IDBI set up?
Answer: IDBI set up in the year 1968?
20. IDBI stands for?
Answer: Industrial Development Bank of India.
21. When was RRB set up?
Answer: RRB set up in the year 1975.
22. RRB stands from?
Answer: Regional Rural Bank.
23. How many RRBs were set up for the first time in 1975?
Answer: There are 5 RRBs were set up for the first time in 1975.
24. How many RRBs were set up in India in the year, 2014.
answer: There are 57 RRBs were set up in India in the year, 2014.
25. When was NABARD established?
Answer: NABARD was established in the 1982.
26. NABARD stands for?
Answer: National Bank for Agriculture and Rural Development.
27. When was SIDBI established?
Answer: SIDBI was established in the year 1990.
28. When was the Bill to set up SIDBI passed?
Answer: The Bill to set up SIDBI was passed in 1989.
29. SIDBI stands for?
Answer: Small Industrial Development Bank.
30. Where is the Headquarters of SIDBI?
Answer: The Headquarters of SIDBI is at Lucknow.
31. How John Hicks defined money?
Answer: According to John Hicks, money is defined by its functions, to him, “anything is money which is used as money.”
32. How Walker defined money?
Answer: According to Walker, “money is that money does.”
33. How Geoffry Crowther defined money?
Answer: According to Geoffry Crowther money as “Anything that is generally acceptable as a means of exchange and at the same time, acts as a measure and store of value.”
34. How Samuelson defined Central Bank?
Answer: According to Samuelson, the Central Bank is the bank of the banks.
35. What is the name of the Central Bank of England?
Answer: The name of the Central Bank of England is ‘Bank of England.’
36. What is the name of the Central Bank of USA.
Answer: The name of the Central Bank of USA is the ‘Federal Reserve System.”
37. Write the name of the market in India where the barter system is still in operation.
Answer: Jonbeel Mela in the Morigaon District of Assam.
38. What is near money?
Answer: Assert which are close substitute of money are near money.
39. Why does cheque money is called near money?
Answer: A cheque money is called ‘near money’ because it can be transformed into money at any time through it is not an actual money.
40. What is NABARD?
Answer: NABARD is the Apex financial institution among all the institution related to investment and production in the rural areas.
41. What is credit creation?
Answer: Credit Creation refers to the process of creating secondary deposits.
42. In the monetary system, goods are stared in what form?
Answer: In the form of money.
43. What was used as currency in the barter system?
Answer: Objects or materials are used as currency in the barter system.
44. What is liquidity of currency?
Answer: Any currency is liquid if it can be converted immediately and directly into commodities of equal value.
45. What is core banking system?
Answer: A core banking is a system in which transactions are carried out without the actual transfer of currency.
46. What is legal tender money?
Answer: The currency that is legally acceptable is called legal tender money.
47. What is limited legal tender money?
Answer: A currency that allows only limited value transaction is called limited legal tender money.
48. What is non-legal tender money?
Answer: Currencies that is not legally acceptable, that is, not accepting currency dose not constitute a violation of the law is called non-legal tender money.
49. What is fiat money?
Answer: All kinds of money that are made legal tender by a government decree or fiat are called fiat money.
50. What is token money?
Answer: When the face value or written value or embossed value of money is higher than its intrinsic or metallic value, it becomes a token money.
51. What is the reason for black money?
Answer: The main reason for the origin of black money is economic crime.
52. What is high-power money?
Answer: Out of the total money supply in the country that part which is under the direct control of the country’s central bank is high-power money.
53. What is bank?
Answer: Bank is a financial institution that deals in loan.
54. According to economist Crouther, who is the encestar of banks?
Answer: The merchant, the goldsmith and the lenders are the encestar of banks.
55. Who supply money to the government?
Answer: The central Bank supplies, money to the Government.
56. What is market economy?
Answer: A market economy is one when the demand and supply forces determine the output and the price of commodities and services.
Fill in the blanks
1. In________ system money is the common medium.
Answer: Monetary.
2. _______ Coins are created with the abolition of the non-monetary mental standard system.
Answer: Metal.
3. Money mainly dose________functions.
Answer: 4.
4. Animal currency is created when an ________ is a medium of exchange.
Answer: animal.
5. Currency serve as a_________of the value of commodities.
Answer: Measure.
6. Current- currency is non-representational or non convertible paper currency.
Answer: paper.
7. A cheque dose not have general__________.
Answer: Acceptance.
8. _________ is a major feature of a market oriented economy.
Answer: Pricing.
9. __________ bank acts as a banker of the banks.
Answer: Central Bank.
10. The Central Bank, as the________of the government, keeps accounts of all government revenue and expenditure.
Answer: Agent.
11. Commercial banks create__________money.
Answer: Credit.
12. Central Bank is the custodian of foreign________reserve of the country.
Answer: Exchange.
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