Grade 10 Exam  >  Grade 10 Videos  >  Economics for Grade 10  >  Introduction: Money

Introduction: Money Video Lecture | Economics for Grade 10

15 videos|37 docs|35 tests

FAQs on Introduction: Money Video Lecture - Economics for Grade 10

1. What is Money Class 10?
Ans. Money Class 10 is a topic taught in the CBSE board's Class 10 curriculum. It covers various aspects of money, such as the concept, functions, and forms of money, as well as its role in the economy. Students learn about the importance of money, its creation, and distribution, and the role of banks in the financial system.
2. What are the types of money covered in Money Class 10?
Ans. Money Class 10 covers various types of money, such as commodity money, fiat money, and representative money. Commodity money is any physical good that is widely accepted as a means of payment, such as gold or silver. Fiat money, on the other hand, is money that is not backed by a commodity but is accepted as legal tender by the government. Representative money is currency that represents a commodity, such as a gold certificate.
3. What are the functions of money covered in Money Class 10?
Ans. Money Class 10 covers three main functions of money – medium of exchange, unit of account, and store of value. The medium of exchange function refers to the use of money in exchange for goods and services. The unit of account function refers to the use of money as a standard measure of value. The store of value function refers to the ability of money to hold its value over time and be used for future purchases.
4. What is the role of banks in the financial system covered in Money Class 10?
Ans. Money Class 10 covers the role of banks in the financial system, which includes accepting deposits, providing loans, and facilitating payment transactions. Banks act as intermediaries between savers and borrowers, and they help to allocate resources efficiently in the economy. They also play a crucial role in creating money through the process of fractional reserve banking.
5. What is the importance of learning Money Class 10?
Ans. Learning Money Class 10 is important for several reasons. It helps students understand the role of money in the economy, which is crucial for making informed decisions about personal finance and investments. It also provides a foundation for higher-level economics courses and careers in finance. Additionally, learning about the history and evolution of money can help students develop a deeper understanding of the world around them.
15 videos|37 docs|35 tests
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