Embibe Experts Solutions for Exercise 1: Exercise
Embibe Experts Social Science Solutions for Exercise - Embibe Experts Solutions for Exercise 1: Exercise
Attempt the free practice questions from Exercise 1: Exercise with hints and solutions to strengthen your understanding. Social Science Crash Course (Based on Revised Syllabus-2023) solutions are prepared by Experienced Embibe Experts.
Questions from Embibe Experts Solutions for Exercise 1: Exercise with Hints & Solutions
How does the use of money make exchange goods easier?
What is a cheque? In what way are cheque transactions helpful in everyday life?
What is currency? Why is it accepted as a medium of exchange even though it is without any use of its own?
Why do banks charge a higher rate of interest on loans given by them as compared to the rates offered to depositors?
Why is the use of metallic coins being progressively discouraged?
What is meant by collateral? Illustrate with a suitable example.
What is meant by the debt trap? Illustrate how it puts the borrower into a situation from which recovery can be very painful.
Examine the role of Reserve Bank in supervising the functioning of formal sources of loans.
