Question

13. Read the information given below ad select the correct option.
A person holding money can easily exchange it for any commodity or service that he
or she might want. Thus everyone prefers to receive payments in money and then
exchange the money for things that they want. In a barter system where goods are
directly exchanged without the use of money, double coincidence of wants is an
essential feature.
Double coincidence of wants state that
(a) The seller sells the commodity whether the buyer wants it or not.
(b) The buyer buys the commodity to sell it to the other buyer.
(c) Both the seller and buyer agree to sell and buy each other's commodity.
(d) Both the seller and buyer search for other means of exchange.
14. Which of the following options describe the debt trap?
(a) Demand deposits with the banks
(b) Situation when it becomes impossible for the borrower to repay the loan and the
borrower adds on a new debt to pay the existing debt.
(C) Cheap and affordable credit.
(d) Paper instruction the bank to pay a specific amount from the person's account to
the person in whose name it has been made.
15. Read the given statement in context of liberalization and chose the correct option.
(a) Increased availability of qualitative and quantitative human resources due to
greater access to education.
(b) People have wider choices to make.
(c) Business houses are allowed to make their own decisions on imports and exports.
(d) Increased output, fair distribution of income, more employment opportunities.

Answer 1

Answer:

Explanation:

13.C

14.B

15.C