Practice Facilitating Payments - 5.6.3 | 5. Money and Banking – Basic Concepts | ICSE Class 10 Economic Applications
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is a cheque?

💡 Hint: Think about how cheques replace cash in transactions.

Question 2

Easy

What does a debit card do?

💡 Hint: Consider how a debit card is different from a credit card.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the primary purpose of a cheque?

  • To save money
  • To order a bank to pay a specified amount
  • To borrow funds

💡 Hint: It's a means of making a payment without cash.

Question 2

True or False: A bank draft is not guaranteed by the bank.

  • True
  • False

💡 Hint: Think about how the bank backs the payment in this instance.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

You applied for a loan and were offered both a bank draft and a personal cheque for payment. Which would you choose and why?

💡 Hint: Consider security versus risk in your decision.

Question 2

Discuss how electronic transfers could impact cash-based economies. What might be the advantages and disadvantages?

💡 Hint: Think about both technological benefits and social implications.

Challenge and get performance evaluation