Economics Practice Quiz 52

Q1.How do the terms of credit vary between formal and informal lenders?

A. They are always identical B. They vary substantially C. They are regulated to be the same D. Informal lenders offer better terms

Q2.Which households primarily receive credit from formal sources?

A. Poorer households B. Middle-class households C. Richer households D. All households equally

Q3.What is essential to reduce dependence on more expensive informal credit?

A. Decreasing interest rates on informal loans B. Increasing the total formal sector credit C. Banning informal lending sources D. Promoting international loans

Q4.When did Grameen Bank start as a small project?

A. 1960s B. 1970s C. 1980s D. 1990s

Q5.In 2018, approximately how many members did Grameen Bank have?

A. Over 5 million B. Over 7 million C. Over 9 million D. Over 11 million

Q6.Which demographic group constitutes almost all of the borrowers of Grameen Bank?

A. Men from middle-class sections B. Women from poorest sections of society C. Young entrepreneurs D. Farmers from rural areas

Q7.What have the poor women borrowers of Grameen Bank proven?

A. They prefer informal credit sources. B. They are unreliable borrowers. C. They can successfully start and run small income-generating activities. D. They require large-scale industrial loans.

Q8.According to the provided text, what percentage of farmers in India are classified as small farmers?

A. Approximately 50 per cent B. About 60 per cent C. About 80 per cent D. Nearly 90 per cent

Q9.For what primary purpose do small farmers in India typically need credit?

A. Purchasing luxury goods B. Setting up large industries C. Cultivation D. Investing in stock markets

Q10.Which institution issues currency notes on behalf of the Central Government in India, as implied by the fill-in-the-blank question?

A. State Bank of India B. Ministry of Finance C. Reserve Bank of India D. Commercial Banks

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Economics Practice Quiz 52