what are demand deposite? explain 3 feture
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DEMAND DEPOSITS : the deposits with the bank which can be withdrawn in demand are known as demand deposits.
1)Demand deposits have the essential characteristics of money, that is, of a medium of exchange. They eliminate the double coincidence of wants, are a store of value, make transactions easier and are a standard for deferred payments
2).They are widely accepted as a means of payment along with currency. they constitute money in the modern economy.
3)Demand deposits are closely linked to the working of the modern banking systems.
4)People's money remains safe when they are placed in the bank in the form of demand deposits.
5)Through demand deposits, people earn interest on the money they deposit.
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DEMAND DEPOSITS : the deposits with the bank which can be withdrawn in demand are known as demand deposits.
1)Demand deposits have the essential characteristics of money, that is, of a medium of exchange. They eliminate the double coincidence of wants, are a store of value, make transactions easier and are a standard for deferred payments
2).They are widely accepted as a means of payment along with currency. they constitute money in the modern economy.
3)Demand deposits are closely linked to the working of the modern banking systems.
4)People's money remains safe when they are placed in the bank in the form of demand deposits.
5)Through demand deposits, people earn interest on the money they deposit.
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HOPE IT'S HELP U.... ☺
divsom:
thx for it
demand deposits means that a person can withdraw money anytime on demand from his /her account. 1.by demand deposits if any person needs money in emergency than he can withdraw on demand
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