Question

1. Modern Currency is without any use of its own. Explain
2. Cheap and affordable credit is crucial for the country's development. Explain

Answer 1

Answer:

hii dude

Explanation:

economics book open kar ke chapter ke 7 page me hai

Answer 2

Q1. The modern currency, being based on paper, has very little intrinsic value. The value a currency commands is based on the trust that people have on it as a legal tender. Due to that trust, people are willing to accept money in return for goods and services. If the trust breaks, then the value of the paper currency will also vansih.

Q2.Cheap and affordable credit plays a crucial role for the country’s development. There is a huge demand for loans for various economic activities. The credit helps people to meet the ongoing expenses of production, complete production on time, and thereby increase their earnings. The main benefits from derived credit for developmental activities are :

1. Credit plays a major role in the development of a country of creating better facilities for agricultural and industrial activities.

2. Credit helps people from all walks of life in setting up their business and increase their earnings.

3. For middle-class people, loans help a lot in constructing their houses and get rid of monthly rents.

4. Credit or loans help in raising the standard of living and social status of the common man by enabling them to buy cars, scooters, televisions and other products.