Question

How is the lesson Money and credit helpful in your life? Class 10th CBSE

Answer 1

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Explanation:

Money and credit are very helpful and useful in our life.Money is a medium of exchange or to buy something with some value.The use of money is regular in everyday.There are many transactions through money it involves:

• Goods being sold and bought everyday with the use of money.
• In some transaction sevices are exchanged in place of money.e.g=We pay money to car washing centre for cleansing our car.
• Another money transaction in daily life includes we purchasing stationary items and pay for it,we buy food items and pay for it, submission of school fees, tuition fees,rent ,paying doctor fees after getting service from it, receiving an income etc.Hence,money is used in our everyday life.

whereas credit enables us or provide us loans which is an immediate money requirement.Credit fulfils our present needs and demand.Credit is generally accepted for the setup of a business or a project which requires huge capital investment in that case credit is useful as it provides immediate funds.In both cases bank serves an intermediate between those who have surplus money and those who are in need.

Answer 2

Money and credit are very helpful and useful in our life.Money is a medium of exchange or to buy something with some value.The use of money is regular in everyday.There are many transactions through money it involves:

• Goods being sold and bought everyday with the use of money.
• In some transaction sevices are exchanged in place of money.e.g=We pay money to car washing centre for cleansing our car.
• Another money transaction in daily life includes we purchasing stationary items and pay for it,we buy food items and pay for it, submission of school fees, tuition fees,rent ,paying doctor fees after getting service from it, receiving an income etc.Hence,money is used in our everyday life.
• whereas credit enables us or provide us loans which is an immediate money requirement.Credit fulfils our present needs and demand.Credit is generally accepted for the setup of a business or a project which requires huge capital investment in that case credit is useful as it provides immediate funds.In both cases bank serves an intermediate between those who have surplus money and those who are in need.