NCERT Solutions for Class 10 Economics Chapter 3 – Money and Credit
Economics is one of the most scoring subjects of Social Science. Also, it the most scoring subject if you are able to clutch the content of the Chapter. The NCERT Solutions for Class 10 Economics Chapter 3 is the simplest form of this Chapter that covers every topic. Besides, it contains all the solved exercises and question/answer of the Chapter. Above all, these exist in PDF file which is easily downloadable and is free.
Our NCERT Solutions for Class 10 Economics Chapter 3 are primed by a team of expert teachers. Also, they explain all the topics descriptively to clear all doubts. Above all, we have preceding few years question papers that will help to know all important topics. These topics will help to attain higher grades. For complete NCERT solutions download the Toppr for Android and iOS or Signup for free.
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CBSE Class 10 Economics Chapter 3 Money and Credit NCERT Solutions
Money refers to the form of exchange in the form of banknotes or coins. Also, it is an important medium of transaction. Whereas, credit refers to a system in which we buy goods and pays for them in the future. Both money and credit interlinks with each other.
Subtopics covered under NCERT Solutions for Class 10 Economics Chapter 3
3.1 Money as a Medium of Exchange- This topic mention how important money is and also what are the uses of money. Also, the topic talks about the barter system where they use their goods for transactions. Besides, the barter system lacks some important factors that relate to exchange.
3.2 Modern form of Money- This topic deals with various forms of money that we use. Also, the topic specifically talks about two important ones:
- Currency- Talks about the modern and traditional coins used for transactions.
- Deposits with Banks- This topic talks about the money which we keep in bank accounts. Also, the topic covers the usefulness and safeness of banks.
3.3 Loan Activities of Banks- In this topic, the bank are further discussed. Also, the topic tells how banks use your money to give loans and earn interests.
3.4 Two Different Credit Situations- This topic highlights two examples of Salim and Swapna and how both of them take a loan from the bank. Also, Salim was able to repay the loan but Swapna failed to do so. Also, how this affects their creditability and situation.
3.5 Terms of Credit- This topic covers the details of the loan agreement and what principles they follow. Also, the Collateral (security against the loan includes land, building, etc.) which the bank demands.
3.6 Formal Sector Credit in India- Discusses the participation of formal sector credit in India. The topic also talks about the various sectors that provide credit to people of the rural or urban population. Also, it explains the position of rural credit by graphs.
3.7 Self-help Groups for the Poor- Is a new method that discusses a group of people made up of volunteer participation that works to provide a loan without any collateral.
Summing Up- This topic sums up all the content of the chapter the important things which we learn from them.
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