CBSE Class 10 Answered
Do demand deposits constitute money in modern times?
Asked by gs7989185 | 20 Apr, 2022, 07:13: PM
Expert Answer
- Demand deposits share the essential features of money in following ways: -
- Because the deposits in the bank account can be withdrawn on demand, these are known as demand deposits. The facility of cheques against demand deposits makes it possible to directly settle payments without the use of cash.
- Since demand deposits are accepted widely as a means of payment, along with currency, they constitute money in the modern economy
- Deposits also act as direct money in case of cheque payments. Cheques against a deposit settle payments without the use of direct cash.
Answered by Social Science Expert | 21 Apr, 2022, 09:10: PM
CBSE 10 - Social Studies
Asked by jeet.shekhda | 11 Apr, 2024, 08:03: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by shawnandani943 | 10 Apr, 2024, 08:16: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by nagarajupushpa6 | 29 Mar, 2024, 07:38: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by meghnadoffical.in | 21 Mar, 2024, 09:35: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by ayaanbachnesabgari | 19 Mar, 2024, 06:23: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by saivarshith250 | 10 Mar, 2024, 09:42: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by kamilgindwandammi | 10 Mar, 2024, 04:50: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by tarunjajoriya9891 | 06 Mar, 2024, 09:11: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by akashkasana785 | 05 Mar, 2024, 11:21: AM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by afiyamallick12 | 15 Feb, 2024, 03:37: PM
ANSWERED BY EXPERT
