SEBA Class 8 Social Science MCQ Chapter 11 Role of Financial Institutions and Organisations in Socio – Economic Development Solutions in English Medium, Class 8 Social Science Multiple Choice Question Answer to each chapter is provided in the list so that you can easily browse throughout different chapters SEBA Class 8 Social Science MCQ Chapter 11 Role of Financial Institutions and Organisations in Socio – Economic Development Question Answer and select need one.
SEBA Class 8 Social Science MCQ Chapter 11 Role of Financial Institutions and Organisations in Socio – Economic Development
Also, you can read the SCERT book online in these sections SEBA Class 8 Social Science Objective Type Solutions by Expert Teachers as per SCERT (CBSE) Book guidelines. These solutions are part of SCERT All Subject Solutions. Here we have given Assam SEBA Class 8 Social Science MCQ Solutions for All Subject, You can practice these here.
Role of Financial Institutions and Organisations in Socio – Economic Development
Chapter – 11
| MCQ |
1. What is the primary function of a bank?
(a) To provide loans to individuals and businesses.
(b) To act as a safe depository for people’s money.
(c) To facilitate transactions between buyers and sellers.
(d) All of the above.
Answer: (d) All of the above.
2. What is the term used for people who borrow money?
(a) Lenders.
(b) Borrowers.
(c) Depositors.
(d) Investors.
Answer: (b) Borrowers.
3. What is the name of the highest financial authority in a country?
(a) Commercial Bank.
(b) Central Bank.
(c) Cooperative Bank.
(d) Land Development Bank.
Answer: (b) Central Bank.
4. What is the primary role of the Central Bank?
(a) To issue currency.
(b) To regulate commercial banks.
(c) To act as a lender of last resort.
(d) All of the above.
Answer: (d) All of the above.
5. What is the term used for the difference between a country’s total income and its total expenditure?
(a) National Income.
(b) Per Capita Income.
(c) Budget Deficit.
(d) Gross Domestic Product (GDP).
Answer: (c) Budget Deficit.
6. What is the term used for the average income of a country’s citizens?
(a) National Income.
(b) Per Capita Income.
(c) Budget Deficit.
(d) Gross Domestic Product (GDP).
Answer: (b) Per Capita Income.
7. What are the two main groups of people in a society based on their income levels?
(a) Rich and Poor.
(b) Surplus and Deficit.
(c) Borrowers and Lenders.
(d) Urban and Rural.
Answer: (b) Surplus and Deficit.
8. What is the term used for the system that facilitates borrowing and lending money?
(a) Financial System.
(b) Banking System.
(c) Monetary System.
(d) Credit System.
Answer: (a) Financial System.
9. What is the name of the bank that is considered the head of all banking systems in a country?
(a) Commercial Bank.
(b) Central Bank.
(c) Cooperative Bank.
(d) Land Development Bank.
Answer: (b) Central Bank.
10. What is the primary goal of financial institutions?
(a) To make profits.
(b) To provide loans.
(c) To promote economic growth.
(d) To ensure financial stability.
Answer: (c) To promote economic growth.
11. What is the primary function of a Commercial Bank?
(a) To issue currency.
(b) To accept deposits and provide loans.
(c) To regulate other banks.
(d) To act as a government’s financial advisor.
Answer: (b) To accept deposits and provide loans.
12. Which of the following is NOT a type of deposit account offered by Commercial Banks?
(a) Current Account.
(b) Savings Account.
(c) Fixed Deposit Account.
(d) Capital Account.
Answer: (d) Capital Account.
13. What is the term used for the interest rate charged by Commercial Banks on loans?
(a) Deposit Rate.
(b) Lending Rate.
(c) Reserve Ratio.
(d) Cash Reserve Ratio.
Answer: (b) Lending Rate.
14. What is the role of Commercial Banks in economic development?
(a) They play no significant role.
(b) They mobilise savings and channel them into investments.
(c) They only focus on profit-making.
(d) They increase inflation.
Answer: (b) They mobilise savings and channel them into investments.
15. What is the main source of income for Commercial Banks?
(a) Interest on loans.
(b) Government subsidies.
(c) Fees charged for services.
(d) All of the above.
Answer: (a) Interest on loans.
