(English Medium) ICSE Class 10 - CISCE Question Bank Solutions

Currency and ______ are two modern forms of money.

Who regulates money supply in India?

Money whose value as a commodity is equal to its face value is called:

Which of the following agency is responsible for issuing ₹ 1 currency note in India?

Which of the following institutions is authorised to issue currency in India? 

Which one of the following is not a modern form of money? 

Indian rupee is legal tender.

______ are termed as Legal Tender Money.

Read the following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below: 

Assertion (A): Bank money is legal tender money.

Reason (R): Cheques drawn on demand deposits can be refused by anyone as a mode of payment. Hence, demand deposits (i.e. bank money) are not legal tenders they are optional. 

Read the-following statements - Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): Currency and bank money are the two modern forms of money.

Reason (R): Currency is high powered money.

Match the following:

Why is money referred to as legal tender?

Distinguish between fiat money and bank money.

What is fiat money?

Explain four circumstances under which the law of demand does not operate.

Construction of dams always have positive effects.

Interest is a factor income for ______.

Briefly explain the impact of constructing dams on the ecosystem.

State the law of supply.

State and explain the law of supply with exceptions.