NCERT Solutions for Class 10 Social Science Economics Chapter 3, ‘Money and Credit’ explains students on Money as a medium of exchange, modern forms of money, bank lending activities, formal credit sector in India and SHG formation.
Money helps us in avoiding the “double coincidence” of needs as required by a barter economy, by enabling specialization. Along with money, credit too plays an important role, for instance, if anyone purchases on a credit card – a bank effectively pay on his behalf – anticipating he will pay back the amount to the credit card company in six weeks' time. Given below are subjective type questions & answers on ‘Money and Credit- Class 10 NCERT’ for your reference.
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