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 why are demand deposits considered as money?

Asked by Aditya Kumar(student) , on 9/3/11

Answers

bcezz.....they can be withdrawn on demand...n morovrr the most exciting feature they offer ----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.....

Posted by Naina Singh(student)on 9/3/11

Bcoz deposit means a saving containing money......huh

Posted by Anjan Bansod(student)on 9/3/11

thanx....

i am also studying sst!!

Posted by Aditya Kumar(student)on 9/3/11

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...

Posted by Rushal Nayyar(student)on 9/3/11

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.

Posted by Aamie S(student)on 9/3/11

abcdefghijklmnopqrstuvwxyz.. :p

Posted by anmoldua3...(student)on 25/10/11

badges

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.

Posted by Parag Patidar(student)on 29/10/12

demand draft are considered as money beacause:-

  1. they are generally he extra money that we deposit to the bank
  2. here people 's money is safe and also people get INTEREST on it .

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

Posted by Siddhi Shrivas(student)on 21/1/13

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