Project file on topic money and credit
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1 ) We all know money as the paper notes that we use to buy goods and services. But money is much more than that. It is a form of currency that is used in our day to day monetary transactions. Money need not necessarily be in terms of paper notes. There are several forms of money available today. Such as plastic money which is in forms of Debit and Credit Cards.
2 ) Credit is a means of lending. People often need money to start a business or pay for college fees and other such huge expenses, which may not be possible to meet in cash and in one go. For such situations there are credits. In credit, you borrow money from the bank to meet your expenses, whether to pay off a college fee, or to pay the vendors for any business supply, or to purchase a new house, or car.
2 ) Credit is a means of lending. People often need money to start a business or pay for college fees and other such huge expenses, which may not be possible to meet in cash and in one go. For such situations there are credits. In credit, you borrow money from the bank to meet your expenses, whether to pay off a college fee, or to pay the vendors for any business supply, or to purchase a new house, or car.
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