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Asked/Added Questions From NCERT:


Question 1. Asked on :10 September 2019:11:19:46 AM

 How do the deposits with banks become their sources of income?

-Added by Himanshi Verma Economics » Money And Credit

Answer:

Akki chauhan
 Banks make use of deposits to meet the loan requirements of the people. The difference between what is charged from borrowers and what is paid to depositers is their main source of income.

-Answered by Akki chauhan On 11 September 2019:11:27:25 AM


Question 2. Asked on :10 September 2019:11:14:27 AM

 What do you mean by debt trap?

-Added by Himanshi Verma Economics » Money And Credit

Answer:

Akki chauhan
A debt trap is a situation when credit pushes the borrower into a situation from which recovery is painful.

-Answered by Akki chauhan On 11 September 2019:11:27:34 AM


Question 3. Asked on :10 September 2019:11:11:22 AM

 What is credit?

-Added by Himanshi Verma Economics » Money And Credit

Answer:

Akki chauhan
Credit refers to an agreement in which the lender, supplies the borrower with the money, goods or services in return for the promises of future payment.

-Answered by Akki chauhan On 11 September 2019:11:27:45 AM


Question 4. Asked on :10 September 2019:11:08:32 AM

 Define the term collateral?

-Added by Himanshi Verma Economics » Money And Credit

Answer:

Akki chauhan
Collateral is an asset that the borrower owns such as land, building, vehicles, livestock, deposits with the banks and uses this as a guarntee to a lender until the loan is repaid.

-Answered by Akki chauhan On 11 September 2019:11:27:55 AM


Question 5. Asked on :14 May 2019:11:47:25 AM

 What is money?

-Added by Rohit rajput Economics » Money And Credit

Answer:

Master Purushottam
 Money refers to a medium of exchange used in economic transactions or in exchange of goods and services.

-Answered by Master Purushottam On 24 August 2019:05:00:04 PM


 

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