‘रचना-प्रयोग’ का मुख्य उद्देश्य क्या है?

व्याकरण का व्यावहारिक प्रयोग सिखाना

‘द्वितीयः’ किस प्रकार की संख्या है?

क्रमवाचक (दूसरा)

How does money solve the problem of barter?

Money acts as a medium of exchange, removing the need for a double coincidence of wants, since people can sell goods for money and use money to buy what they need.

What are the terms of credit?

They include the interest rate, the collateral required, the documentation needed and the mode and time of repayment that a lender sets for a borrower.

Why is cheap and affordable credit important for development?

It helps people invest in farming, business and trade, raises incomes and supports growth, while costly informal credit can trap borrowers in debt.

How do self-help groups help the poor?

They pool members’ small savings and provide affordable loans without collateral, helping the poor — especially women — become self-reliant and avoid moneylenders.

Why do banks keep only a part of deposits as cash?

Because only some depositors withdraw money at any time, so banks use the major portion to give loans, earning interest and providing credit to the economy.

How does money solve the problem of barter?

Money acts as a medium of exchange, removing the need for a double coincidence of wants, since people can sell goods for money and use it to buy what they need.

What are the terms of credit?

The interest rate, the collateral required, the documentation needed and the mode and time of repayment that a lender sets for a borrower.

Why is cheap and affordable credit important for development?

It helps people invest in farming, business and trade, raises incomes and supports growth, whereas costly informal credit can trap borrowers in debt.

How do self-help groups help the poor?

They pool members’ small savings and provide affordable loans without collateral, helping the poor — especially women — become self-reliant and avoid moneylenders.

Distinguish between formal and informal sources of credit.

Formal sources like banks and cooperatives are supervised by the RBI and charge reasonable interest, while informal sources like moneylenders charge high, unregulated rates.

Money and Credit

Class 10 Social Science · Economics — Understanding Economic Development · Chapter 3

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Summary

This chapter explains the role of money and credit in modern economic life. Money serves as a medium of exchange that removes the difficulties of the barter system, where a double coincidence of wants is required. Modern forms of money include currency (notes and coins issued by the Reserve Bank of India) and deposits in banks, which can be withdrawn on demand and transferred through cheques. Banks act as intermediaries, accepting deposits and giving loans while keeping only a small share as cash reserves. The chapter discusses credit, showing through examples how it can either help borrowers grow or push them into a debt trap, depending on the terms. It explains the terms of credit — the interest rate, collateral, documentation and mode of repayment — and contrasts formal sources of credit (banks and cooperatives, supervised by the RBI) with informal sources (moneylenders and traders) that often charge very high interest. It highlights self-help groups as a way to provide affordable credit to the poor, especially women.

Money as a medium of exchangeModern forms of moneyBanks, deposits and loansTerms of credit and the debt trapFormal and informal sources of creditSelf-help groups and credit for the poor

Key terms

Barter system

A system of exchanging goods directly without using money.

Double coincidence of wants

When both parties want exactly what the other offers in barter.

Demand deposits

Bank deposits that can be withdrawn on demand and used as money.

Collateral

An asset a borrower pledges to the lender as a guarantee for a loan.

Formal sources of credit

Banks and cooperatives that lend at regulated, reasonable rates.

Informal sources of credit

Moneylenders and traders who lend at high, unregulated rates.

Self-help group

A small group that pools savings and gives small loans to its members.

Reserve Bank of India

The central bank that issues currency and supervises banks.

Extra questions & answers

LET’S WORK THESE OUT

A House Loan

LET’S WORK THESE OUT

EXERCISES

ADDITIONAL PROJECT / ACTIVITY

Try one from this chapter

Money removes the barter problem of:

Flashcards & interactive practice

Money and Credit

CBSE Class 10 Board Examination community

Summary

Key terms

Extra questions & answers

LET’S WORK THESE OUT

LET’S WORK THESE OUT

LET’S WORK THESE OUT

A House Loan

LET’S WORK THESE OUT

LET’S WORK THESE OUT

LET’S WORK THESE OUT

EXERCISES

ADDITIONAL PROJECT / ACTIVITY

Practice quiz · Money and Credit

Data & insights