Money and Credit Test

Result

Money and Credit Test - 21

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Weekly Quiz Competition

Question 1
1 / -0

Money __________.

A
only consists of paper currency

B
is used only to pay for purchases

C
was once primarily gold and silver coins but now, has evolved to electronic funds transfers.

D
can only be obtained from a teller at a bank.
Question 2
1 / -0

_________defines market as, " not any particular market place in which things are bought and sold, but the whole of any region in which buyers and sellers are in such free intercourse with each other that the prices of the same goods tend to equality easily and quickly".

A
Alfred Marshall

B
Ely

C
Stonier and Hague

D
Cournot
Question 3
1 / -0

Informal sector loans include _________.

A
NABARD

B
State Bank of India

C
Money lenders

D
Both (A) and (B)

Solution

Money lenders give a loan at a higher rate. The local moneylenders, relatives, friends and finance companies that grant a loan to the people in need at higher interest rates are informal lenders of credit.
Question 4
1 / -0

"Money is a matter of functions of four ___________.

A
medium, income, standard and store

B
medium, measure, standard and store

C
medium, measure, profit and store

D
medium, quantity, standard and store
Question 5
1 / -0

______, by its very nature, is the most liquid asset.

A
Cash

B
Official currency

C
Commodities

D
Cash or official currency
Question 6
1 / -0

Modern forms of money include :
I. Paper notes
II. Gold coins
III. Silver coins.

A
I

B
II

C
III

D
All of the above

Solution

Modern forms of money include currency paper notes and coins.
Unlike the things that were used as money earlier, modern currency is not made of precious metals such as gold, silver, and copper.
Question 7
1 / -0

People who save in small odd lots, deposit their money in banks _____________.

A
to ensure safety of their funds

B
to have liquidity

C
Both (a) and (b)

D
None of the above
Question 8
1 / -0

Banks lend money mainly for ___________.

A
industrial purposes

B
commercial Purpose

C
Both (a) and (b)

D
None of the above.
Question 9
1 / -0

Which of the following qualities of money is essential before it can perform any of its function?

A
Durability

B
Stability in value

C
Legal sanction

D
Acceptability
Question 10
1 / -0

Which of the following is not considered as a kind of money in a modern economy?

A
Coins

B
Currency notes

C
Wheat

D
Bank money

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Re-Attempt Weekly Quiz Competition

Money and Credit Test - 21

Result

Money and Credit Test - 21

Score

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Rank

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SHARING IS CARING

Question 1

only consists of paper currency

is used only to pay for purchases

was once primarily gold and silver coins but now, has evolved to electronic funds transfers.

can only be obtained from a teller at a bank.

Question 2

Alfred Marshall

Ely

Stonier and Hague

Cournot

Question 3

NABARD

State Bank of India

Money lenders

Both (A) and (B)

Solution

Question 4

medium, income, standard and store

medium, measure, standard and store

medium, measure, profit and store

medium, quantity, standard and store

Question 5

Cash

Official currency

Commodities

Cash or official currency

Question 6

I

II

III

All of the above

Solution

Question 7

to ensure safety of their funds

to have liquidity

Both (a) and (b)

None of the above

Question 8

industrial purposes

commercial Purpose

Both (a) and (b)

None of the above.

Question 9

Durability

Stability in value

Legal sanction

Acceptability

Question 10

Coins

Currency notes

Wheat

Bank money

User

Question Analysis

My Perfomance

Score

-

Rank

-

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