keyword: 1)Forms of money 2)Deposits 3)Savings 4)Loan 5)Intrest 6)Cheque give proper definition or meaning in two sentences for the above keywords
Answers
Answer:
1. In macroeconomics, money is anything that is widely accepted in exchange for goods and services. ... There are three types of money recognized by economists - commodity money, representative money, and also fiat money. Money that's in the form of a commodity with intrinsic value is considered commodity money.
2. a sum of money paid into a bank or building society account.
3. Savings refers to the amount left over after an individual's consumer spending is subtracted from the amount of disposable income earned in a given period of time. Savings can be used to increase income through investing
4. A loan is when money is given to another party in exchange for repayment of the loan principal amount plus interest. Loan terms are agreed to by each party before any money is advanced. A loan may be secured by collateral such as a mortgage or it may be unsecured such as a credit card.
5. the feeling of wanting to know or learn about something or someone.
6. A cheque, or check (American English; see spelling differences), is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
Answer:
Deposits refer to the money that people keep in banks is called Deposits