Why are demand deposits considered as money?

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Chapter 3 NCERT Class 10 Economics SOLUTIONS

3. Why are demand deposits considered as money?

Question:

Why are demand deposits considered as money?

Answer:

Demand Deposit is payable by way of cheque or money withdrawal slip. That's why demand deposits are considered as money.

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(All Q's of this Chapter solved)

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Why do you think that the share of formal sector credit is higher for the richer households compared to the poorer households?

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