I need all answers please answer the following questions
Answers
Explanation:
Answer 1
DOUBLE COINCIDENCE OF WANTS
In a barter economy, an exchange between two people requires a double coincidence of wants, which means that what one person wants to buy is exactly what the other person wants to sell.
Answer 2
It is through availability of cheap, affordable and timely credit that the development can be triggered
Credit has its own unique role for development because of following reasons :
(i) Cheap and affordable credit lead to higher incomes and many people could then borrow cheaply for a variety of needs.
(ii) With credit people could grow crops, do business, set-up small scale industries etc.
Answer 3
Modern currency is accepted as a medium of exchange without any use of its own because:
(1) Modern currency is authorized by the government of a country.
(2) In India, the Reserve Bank of India issues all currency notes on behalf of central Government.
(3) No other individual or organization is allowed to issue currency.
(4) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions in India.
(5) No individual in India can legally refuse a payment made Rupees.
Answer 4
Workers who receive their salaries at the end of each month have extra cash at the beginning of the month. This extra cash is deposited with the bank by opening a bank account in their name. ... Since the deposits in the bank accounts can be withdrawn on demand, these deposits are called demand deposits.
answer 1. . In a barter economy, an exchange between two people requires a double coincidence of wants, which means that what one person wants to buy is exactly what the other person wants to sell.
answer 2 . . Crop production involves cost of seeds, fertilizers, pesticides, water, electricity, repair of equipments. Cheap credit would thus lead to increase in production. Even tertiary sector needs loans to buy the latest equipments and technology. Thus, we can say that credit has a unique role in the development of a country.
answer 3 .. Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country. 2. In India, RBI issues the currency notes and it is illegal for any other organization or individual to issue the currency
answer 4..A demand deposit account (DDA) is a bank account from which deposited funds can be withdrawn at any time, without advance notice. DDA accounts can pay interest on the deposited funds but aren't required to.
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