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Give Reason Or Explain. Saving May Be Used in Future for Unforeseen Contingencies. - Economics

Answer in Brief

Give reason or explain.

Saving may be used in future for unforeseen contingencies.

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Solution

 Savings are that part of the income which are not consumed and are kept aside to be used in the future. For any financial contingencies, savings can act as a helpful source of finance. Savings also act as a vital source of funds at the time of future emergencies.

Concept: Total Demand for Good and Services
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 10 Determinants of Aggregates
Exercise | Q 2.2 | Page 94
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