Question

identify and explain the concept from the given illustration
Ram's father utilised his provident fund amount to set up grocery store ​

Answer 1

Answer:investment

Explanation:

It refers to creation of capital assets through mobilisation of savings

Answer 2

Utilizing his provident fund:

Provident fund is a small percentage of the salary that is kept aside for the purpose of savings. This money is utilized by the company and finally, the amount is given to the person when it is required or after his retirement during his old age.

As a result, this money can be used for household, medical and welfare expenses. This statement, it explains that the person used his money which has been saved for a large amount of time to create assets and daily needs.