why are demand deposits considered as money?
bcezz.....they can be withdrawn on demand...n morovrr the most exciting feature they offer ---->> cheque..! it acts as modern era money bcez it can submit transactions widout the involvemnt of cash.....
Bcoz deposit means a saving containing money......huh
i am also studying sst!!
my pleasure buddy !
hi 'istudymaths '!....the ans is dat the demand deposists which we make in banks comprises of our own saving and moreover we can withdraw thwm at our own will at any time...
The facility of cheque against demand deposits make it possible to settle payments without the use of cash.Since,demand deposits are widely accepted as a means of payment it contributes money in the modern world.
oo thnaxx guyyssss
but its optional rite
Demand deposits are considered as money because They can be used as a medium of exchange They are easily acceptable like money They help in settling payments without the use of cash.
demand draft are considered as money beacause:-
3.in this way they don 't need to care for their money and also they get benefitted by it
4.along with this people can withdraw their deposits according to their will
5.this also ensures that people can take the help of his/her money in the case of need and also they help in settling the cash without the use of cash and are used as a medium of exchange