{"id":834301,"date":"2025-12-16T19:22:56","date_gmt":"2025-12-16T13:52:56","guid":{"rendered":"https:\/\/leverageedu.com\/discover\/?p=834301"},"modified":"2025-12-16T19:23:23","modified_gmt":"2025-12-16T13:53:23","slug":"cbse-class-10-economics-chapter-3-ncert-solutions-money-and-credit","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/discover\/school-education\/cbse-class-10-economics-chapter-3-ncert-solutions-money-and-credit\/","title":{"rendered":"CBSE Class 10 Economics Chapter 3 NCERT Solutions: Money and Credit"},"content":{"rendered":"\n<p><strong>CBSE Class 10 Economics Chapter 3 NCERT Solutions, Money and Credit, <\/strong>aims to provide students with insightful solutions. Our subject matter experts have offered simple and accurate answers for the exercises in the economics book of Class 10.<\/p>\n\n\n\n<p>These solutions are designed in an easy-to-understand manner to help students grasp the topics easily. Students can use this variety of NCERT solutions to learn more about these interesting topics comprehensively. We hope that the <strong>CBSE Class 10 Economics Chapter 3 NCERT Solutions, Money and Credit,<\/strong> will be helpful for the students.<\/p>\n\n\n\n\n\n\n<p class=\"has-text-align-center\"><strong>NCERT CBSE Class 10 Chapter 3 Economics Notes: Money and Credit Notes<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table has-medium-font-size\"><table class=\"has-background\" style=\"background:linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 100%,rgb(51,167,181) 100%)\"><tbody><tr><td><a href=\"https:\/\/drive.google.com\/file\/d\/1ef1Y3aYm26ppTEQiHYfBr8Fv4xL6kJl5\/view?usp=sharing\"><strong>Chapter 1<\/strong><\/a><\/td><td><a href=\"https:\/\/drive.google.com\/file\/d\/1TpfNH6D47zSlwx8_W3KCKeFKK8swlUWy\/view?usp=sharing\"><strong>Chapter 2<\/strong><\/a><\/td><td><a href=\"https:\/\/drive.google.com\/file\/d\/19vQzXbXm735qAlR-gVQbGT4HSG1JJHmY\/view?usp=sharing\"><strong>Chapter 3<\/strong><\/a><\/td><td>Chapter 4<\/td><td>Chapter 5<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Overview of Chapter 3 \u2013 Money and Credit<\/h2>\n\n\n\n<p>The chapter explains how money has replaced the barter system and how credit plays a vital role in economic activities. It also highlights the importance of banks and the difference between formal and informal credit sources.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Topics Covered:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Meaning and functions of money<\/li>\n\n\n\n<li>Barter system and its limitations<\/li>\n\n\n\n<li>Modern forms of money<\/li>\n\n\n\n<li>Role of banks in the economy<\/li>\n\n\n\n<li>Credit and its importance<\/li>\n\n\n\n<li>Formal vs informal sources of credit<\/li>\n\n\n\n<li>Terms of credit<\/li>\n\n\n\n<li>Self Help Groups (SHGs).<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\">Also Read:<strong> <\/strong><a href=\"https:\/\/leverageedu.com\/learn\/how-does-education-loan-work-for-studying-abroad\/\"><strong>How Does Education Loan Work for Studying Abroad?<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-exercises-class-10-economics-chapter-3-ncert-solutions\">Exercises: Class 10 Economics Chapter 3 NCERT Solutions<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#dbecf7\"><tbody><tr><td><strong>1. In situations with high risks, credit might create further problems for the borrower.<\/strong> <strong>Explain.<\/strong><br><strong>Ans. <\/strong>In situations with high risks, credit might create further problems for the borrower because if the borrower fails to repay the loan, they may face severe consequences, such as losing collateral or facing legal action. High-risk situations can also lead to higher interest rates, making it harder for borrowers to repay, thus worsening their financial situation.<br><br><strong>2. How does money solve the problem of the double coincidence of wants? Explain with an example of your own.<\/strong><br><strong>Ans. <\/strong>Money solves the problem of double coincidence of wants by acting as a universally accepted medium of exchange. For example, if someone wants to exchange wheat for clothes in a barter system, they need to find someone who not only has clothes but also wants wheat.\u00a0<br>With money, this complexity is eliminated because the person with wheat can sell it for money, and later use that money to buy clothes from anyone who sells them.<br><br><strong>3. How do banks mediate between those who have surplus money and those who need money?<\/strong><br>Ans. Banks mediate between those who have surplus money and those who need money by accepting deposits from savers (those with surplus money) and lending these funds to borrowers (those who need money) in the form of loans. Banks charge interest on loans, paying some of it to depositors as interest on their savings.<br><br><strong>4. Look at a 10 rupee note. What is written on top? Can you explain this statement?<\/strong><br>Ans. On top of a 10 rupee note, it is written &#8220;Reserve Bank of India.&#8221; This indicates that the Reserve Bank of India is the issuing authority of the currency note on behalf of the Central Government, ensuring its authenticity and value in the economy.<br><br><strong>5. Why do we need to expand formal sources of credit in India?<\/strong><br>Ans. We need to expand formal sources of credit in India to provide cheaper and more regulated access to credit for all segments of society, especially for the poor and rural populations. Formal credit sources like banks offer lower interest rates and better terms compared to informal sources, reducing the financial burden on borrowers and promoting economic stability.<br><br><strong>6. What is the basic idea behind the SHGs for the poor? Explain in your own words.<\/strong><br><strong>Ans<\/strong>. Self-help groups (SHGs) for the poor operate on the basic idea of collective savings and lending within a community. Members pool their savings, which are then used to provide loans to group members at reasonable interest rates. This empowers members economically, promotes financial inclusion, and fosters community development through mutual support and decision-making.<br><br><strong>7. What are the reasons why the banks might not be willing to lend to certain borrowers?<\/strong><br><strong>Ans.<\/strong> Banks might not be willing to lend to certain borrowers due to factors such as poor credit history, lack of collateral, high-risk business ventures, or insufficient income to repay the loan. Banks assess these risks carefully to protect their assets and maintain financial stability.<br><br><strong>8. In what ways does the Reserve Bank of India supervise the functioning of banks? Why is this necessary?<\/strong><br><strong>Ans.<\/strong> The Reserve Bank of India supervises banks by setting regulations, monitoring their financial health, and ensuring compliance with banking laws. This supervision is necessary to safeguard depositors&#8217; interests, maintain the stability of the financial system, and promote confidence in banking operations.<br><br><strong>9. Analyse the role of credit for development.<\/strong><br><strong>Ans. <\/strong>Credit plays a crucial role in development by providing funds for investment in businesses, agriculture, infrastructure, and education. It stimulates economic growth, creates employment opportunities, improves living standards, and reduces poverty by enabling individuals and businesses to expand their activities.<br><br><strong>10. Manav needs a loan to set up a small business. On what basis will Manav decide whether to borrow from the bank or the moneylender? Discuss.<\/strong><br><strong>Ans. <\/strong>Manav will decide whether to borrow from a bank or a moneylender based on factors such as interest rates, repayment terms, collateral requirements, and the reliability of the lender. Banks typically offer lower interest rates and more favourable terms,s but may have stricter requirements compared to moneylenders.<br><br><strong>11. In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.<\/strong><br><strong>(a) Why might banks be unwilling to lend to small farmers?<br>(b) What are the other sources from which the small farmers can borrow?<br>(c) Explain with an example how the terms of credit can be unfavourable for the small farmer.(d) Suggest some ways by which small farmers can get cheap credit.<br><\/strong><br><strong>Ans. <\/strong>(a) Banks may be unwilling to lend to small farmers due to their perceived higher risk, lack of collateral, and seasonal income fluctuations.<br>(b) Small farmers can borrow from informal sources such as moneylenders, traders, or relatives.<br>(c) Terms of credit can be unfavorable for small farmers due to high interest rates, short repayment periods, and stringent collateral requirements.<br>(d) Small farmers can access cheap credit through government-sponsored schemes, microfinance institutions, or cooperative banks with subsidised rates and flexible terms.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#dbecf7\"><tbody><tr><td><strong>12. Fill in the blanks:<\/strong><br><strong>(i) Majority of the credit needs of the _________________households are metfrom informal sources.<\/strong><br><strong>(ii) ___________________costs of borrowing increase the debt-burden.<\/strong><br><strong>(iii) __________________ issues currency notes on behalf of the Central Government.<\/strong><br><strong>(iv) Banks charge a higher interest rate on loans than what they offer on__________.<\/strong><br><strong>(v) _______________ is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.<\/strong><br><br><strong>Ans. (<\/strong>i) The majority of the credit needs of <strong>rural <\/strong>households are met from informal sources.<br>(ii) <strong>High borrowing <\/strong>costs increase the debt burden.<br>(iii) <strong>The<\/strong> <strong>Reserve Bank of India<\/strong> issues currency notes on behalf of the Central Government.<br>(iv) Banks charge a higher interest rate on loans than what they offer on <strong>deposits.<\/strong><br>(v) <strong>Collateral<\/strong> is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#dbecf7\"><tbody><tr><td><strong>13. Choose the most appropriate answer.<\/strong><br><strong>(i) In a SHG, most of the decisions regarding savings and loan activities are taken by<\/strong><br><strong>(a) Bank.<\/strong><br><strong>(b) Members.<\/strong><br><strong>(c) Non-government organisation.<\/strong><br><br><strong>Ans.<\/strong> In a SHG most of the decisions regarding savings and loan activities are taken by Members.<br><br><strong>(ii) Formal sources of credit do not include<\/strong><br><strong>(a) Banks.<\/strong><br><strong>(b) Cooperatives.<\/strong><br><strong>(c) Employer<\/strong><br><strong>Ans.<\/strong> Formal sources of credit do not include (c) Employers.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\">Also Read: <strong><a href=\"https:\/\/leverageedu.com\/blog\/seminar-topics-for-cse\/\">680+ Seminar Topics for CSE<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Exam Preparation Tips for Class 10 Economics Chapter 3<\/h2>\n\n\n\n<p>By following these exam preparation tips for Class 10 Economics Chapter 3 \u2013 Money and Credit, students can improve their understanding, write better answers in exams, and boost their chances of scoring high marks with confidence.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Focus on definitions and key terms<\/li>\n\n\n\n<li>Practice long-answer questions<\/li>\n\n\n\n<li>Learn real-life examples given in the chapter<\/li>\n\n\n\n<li>Revise the differences between formal and informal credit<\/li>\n\n\n\n<li>Use diagrams and points for a better presentation<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\">Also Read: <strong><a href=\"https:\/\/leverageedu.com\/blog\/arts-stream-subjects\/\">Arts Stream Subjects 2025<\/a><\/strong><\/p>\n\n\n\n<p>Class 10 Economics Chapter 3 \u2013 Money and Credit is a scoring chapter if studied properly with NCERT Solutions. Understanding the role of money, banks, and credit not only helps in exams but also builds financial awareness. By using clear explanations and exam-oriented answers, students can easily score high marks in this chapter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\">FAQs<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1765892531308\"><strong class=\"schema-faq-question\"><strong>Q1. Why is Chapter 3 \u201cMoney and Credit\u201d important for Class 10 exams?<\/strong><\/strong> <p class=\"schema-faq-answer\">This chapter is important because it is frequently asked in board exams and helps students understand real-life concepts like banking, loans, and credit systems.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765892532694\"><strong class=\"schema-faq-question\"><strong>Q2. What are the main topics covered in Money and Credit?<\/strong><\/strong> <p class=\"schema-faq-answer\">The chapter covers money and its functions, modern forms of money, role of banks, credit, terms of credit, formal and informal sources of credit, and Self Help Groups (SHGs).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765892533648\"><strong class=\"schema-faq-question\"><strong>Q3. What is the difference between formal and informal sources of credit?<\/strong><\/strong> <p class=\"schema-faq-answer\">Formal sources include banks and cooperative societies with low interest rates and proper rules, while informal sources include moneylenders and traders who charge high interest and are not regulated.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1765892707727\"><strong class=\"schema-faq-question\"><strong>Q4. How do NCERT solutions help in exam preparation?<\/strong><\/strong> <p class=\"schema-faq-answer\">NCERT solutions provide clear, structured answers based strictly on the syllabus, helping students understand concepts and score better in board exams.<\/p> <\/div> <\/div>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\"><strong>Related Reads:&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-background has-fixed-layout\" style=\"background:linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 100%,rgb(51,167,181) 100%)\"><tbody><tr><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-english-honeysuckle-unit-1-notes-free-pdf\/\"><strong>NCERT Solutions and Notes Class 6 English Honeysuckle Unit 1: Who did Patrick\u2019s Homework (Free PDF)<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-english-a-pact-with-the-sun-chapter-1\/\"><strong>NCERT Solutions and Notes Class 6 English A Pact with the Sun Chapter 1: A Tale of Two Birds (Free PDF)<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-history-chapter-1-what-where-how-and-when\/\"><strong>NCERT Class 6 History Chapter 1 \u201cWhat, Where, How and When?\u201d: Notes and <\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-history-chapter-1-what-where-how-and-when\/\"><strong>Solutions (Free PDF)<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-geography-chapter-1-the-earth-in-the-solar-system\/\"><strong>NCERT Class 6 Geography Chapter 1 \u2018The Earth in the Solar System\u2019: Notes and Solutions (Free PDF)&nbsp;<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-civics-chapter-1-understanding-diversity\/\"><strong>NCERT Class 6 Civics Chapter 1 \u2018Understanding Diversity\u2019: Notes and <\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-civics-chapter-1-understanding-diversity\/\"><strong>Solutions (Free PDF)<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-6-science-chapter-1-notes-components-of-food\/\"><strong>NCERT Class 6 Science Chapter 1 \u2018Components of Food\u2019: Notes and Solutions (Free PDF)<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/cbse-class-6-ncert-maths-chapter-1-knowing-our-numbers\/\"><strong>NCERT Class 6 Maths Chapter 1 \u2018Knowing <\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/cbse-class-6-ncert-maths-chapter-1-knowing-our-numbers\/\"><strong>Our Numbers\u2019: Notes and Solutions <\/strong><\/a><br><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/cbse-class-6-ncert-maths-chapter-1-knowing-our-numbers\/\"><strong>(Free PDF)<\/strong><\/a><\/td><td><a href=\"https:\/\/leverageedu.com\/discover\/school-education\/ncert-class-7-english-honeycomb-chapter-1-notes\/\"><strong>NCERT Class 7 English Honeycomb Chapter 1: Notes and Solutions (Free PDF)<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>For more topics, follow LeverageEdu <a href=\"https:\/\/leverageedu.com\/discover\/category\/school-education\/ncert-study-material\/\"><strong>NCERT Study Material,<\/strong><\/a> today!\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"CBSE Class 10 Economics Chapter 3 NCERT Solutions, Money and Credit, aims to provide students with insightful solutions.&hellip;\n","protected":false},"author":114,"featured_media":834307,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[477,389],"tags":[],"class_list":{"0":"post-834301","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ncert-study-material","8":"category-school-education"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBSE Class 10 Economics Chapter 3 NCERT Solutions: Money and Credit | Leverage Edu Discover<\/title>\n<meta name=\"description\" content=\"Check out the CBSE Class 10 Economics Chapter 3 NCERT Solutions: Money and Credit. 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