Class 6 – Basic Economics

Chapter 4: Saving and Banking – MCQs

1. What does saving mean?

A. Spending all money
B. Keeping some money for future use
C. Borrowing money
D. Losing money

2. Why do people save money?

A. To waste it later
B. To meet future needs and emergencies
C. To show others
D. To lose it

3. Which is a safe place to keep money?

A. Under the bed
B. In a bag
C. In a bank
D. In a book

4. What is a bank?

A. A shop to buy goods
B. A place to play games
C. A place where money is kept safely
D. A factory

5. To keep money in a bank, we need:

A. A locker only
B. A bank account
C. A mobile phone
D. A cheque book

6. Which of the following is a benefit of saving?

A. Creates problems
B. Helps during emergencies
C. Wastes money
D. Reduces income

7. Banks help people to:

A. Spend all money
B. Save and withdraw money safely
C. Lose money
D. Avoid saving

8. Saving money is a:

A. Bad habit
B. Waste of time
C. Good habit
D. Difficult habit

Answers:
1. B
2. B
3. C
4. C
5. B
6. B
7. B
8. C