Advertisements
Advertisements
Question
Explain with examples how people are involved with the banks.
Advertisements
Solution
People are involved with the banks in the following ways:
Banks are essential for money transaction everywhere.
Banks help in providing employment to the people.
People can safely keep their jewellery and other valuables in the bank lockers.
APPEARS IN
RELATED QUESTIONS
How does money act as a medium of exchange?
Why is modern currency accepted as a medium of exchange without any use of its own? Find out the reason.
How do money and muscle power play an important role in elections? Explain.
Which one of the following refers to investment?
(A) The money spent on religious ceremonies
(B) The money spent on social customs
(C) The money spent to buy assets such as land
(D) The money spent on household goods
How do the deposits with banks become their source of income?
How can money easily exchange it for goods or services? Give example to explain.
Describe the vital and positive role of credit with examples.
What is the meaning of 'barter system'?
How is money used in everyday life? Explain with examples.
Analyse the role of credit for development.
