Economics Practice Quiz 46

Q1.What is the interest rate per annum on the bank loan received by Arun for cultivation in Sonpur?

A. 3 per cent B. 5 per cent C. 8.5 per cent D. 60 per cent

Q2.What is the repayment period for the bank loan taken by Arun for cultivation in Sonpur?

A. Within one year B. Anytime in the next three years C. Only after the harvest of the current crop D. Within six months of taking the loan

Q3.What special facility does the bank offer to farmers like Arun who have taken a crop loan from them?

A. A subsidy on the interest rate B. An option to extend the loan repayment period indefinitely C. A fresh loan against cold storage receipts for stored crops D. Free agricultural inputs for the next cropping season

Q4.From whom does Rama, an agricultural labourer in Sonpur, primarily depend on for credit to meet her daily expenses and other needs?

A. Village moneylender B. Agricultural trader C. Bank D. Her employer, a medium landowner

Q5.What interest rate per month does Rama's employer charge her for loans?

A. 3 per cent B. 5 per cent C. 8.5 per cent D. 10 per cent

Q6.How does Rama primarily repay the money she borrows from her employer?

A. By selling her crops B. By working for the landowner C. By paying in cash after a fixed period D. By providing collateral

Q7.What is the current amount of debt Rama owes to her landowner employer?

A. Rs 1,000 B. Rs 3,000 C. Rs 5,000 D. Rs 10,000

Q8.According to Rama, what is the only source of credit for the landless people in Sonpur?

A. Government banks B. Self-help groups C. Landowner-employers D. Village moneylenders

Q9.Which of the following is a major source of cheap credit in rural areas, apart from banks?

A. Moneylenders B. Traders C. Cooperative societies D. Landlords

Q10.What is a fundamental characteristic of cooperative societies?

A. They are government-owned institutions. B. Members pool their resources for cooperation. C. They primarily serve urban populations. D. They operate solely for profit maximization.

Sign in with Email

Economics Practice Quiz 46