No products in the cart.

  1. Homework Help
  2. CBSE
  3. Class 10
  4. Social Science

What is demand deposits ? Why …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Install Now
What is demand deposits ? Why is it considered money

    • Posted by Om Jat 6 years, 5 months ago

    CBSE > Class 10 > Social Science
    • 2 answers

    Shreya .....#Be Positive Be Happy 6 years, 5 months ago

    The deposits in the bank accounts can be withdrawn on demand, are known as demand deposits.... They offer another facility which lends it the essential characteristics of money as a medium of exchange, hence demand deposits are considered as money. The facility of cheques against demand deposits makes it possible to directly settle payments without use of cash. Demand deposits are accepted widely as a means of payment along with currency, so they also constitute money in modern economy.

    1Thank You

    Yogita Ingle 6 years, 5 months ago

    Demand deposits are considered as money for the following reasons :

    (i) They can be withdrawn from the bank whenever it is so required.

     (ii) They are widely accepted as a means of payment, along with the currency, hence they are considered as money.

    (iii) They are accepted widely as means of payment by way of a cheque instead of cash. Thus they are also considered as money in the modern economy.

     

    1Thank You

    ANSWER
    https://examin8.com Test

    Related Questions

    What was the purpose of sending the Simon Commission

    • Posted by Siddhanth Aravind 1 year, 4 months ago

    CBSE > Class 10 > Social Science
    • 0 answers
    Describe the silesian weavers uprising

    • Posted by Chirag Jindal 1 year, 8 months ago

    CBSE > Class 10 > Social Science
    • 0 answers
    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
    • Don't post personal information, mobile numbers and other details.
    • Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
    • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    Posted by Shristi Pandey 4 months, 4 weeks ago

    CBSE > Class 10 > Social Science
    • 0 answers
    What is the importance of flora and fauna in india

    • Posted by Vansh Singh 1 year, 8 months ago

    CBSE > Class 10 > Social Science
    • 1 answers
    Explain the process of unification of Germany

    • Posted by Sudhanshu Choudhry 1 year, 8 months ago

    CBSE > Class 10 > Social Science
    • 1 answers
    Define Deccan plateau briefly

    • Posted by Anisha Grover 6 months, 3 weeks ago

    CBSE > Class 10 > Social Science
    • 0 answers
    What was zollverein formed

    • Posted by Sakshi Patel 3 months, 3 weeks ago

    CBSE > Class 10 > Social Science
    • 1 answers
    How can more employment opportunities be created in the rural areas

    • Posted by Sai Sravika Godavarthi 7 months ago

    CBSE > Class 10 > Social Science
    • 1 answers
    Describe the process of unification Italy

    • Posted by Armaan Ali 1 year, 8 months ago

    CBSE > Class 10 > Social Science
    • 1 answers
    What was act of 1919 which was set up by Government of India

    • Posted by Kapil Dev Saroye 1 year, 8 months ago

    CBSE > Class 10 > Social Science
    • 0 answers

    myCBSEguide App

    myCBSEguide

    Trusted by 1 Crore+ Students

    Install Now

    Test Generator

    Test Generator

    Create papers online. It's FREE.

    Try Now

    CUET Mock Tests

    CUET Mock Tests

    75,000+ questions to practice only on myCBSEguide app

    Install Now
    Google Play

    Download myCBSEguide App

    All Courses

    Other Websites

    CBSE Courses

    Resources

    Corporate

    NCERT Solutions

    CBSE Sample Papers

    All Content and Intellectual Property is under Copyright Protection | myCBSEguide.com ©2007-2026