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NCERT Class 10 Economics Notes Designed for CBSE, ICSE, IAS, NET, NRA- FlexiPrep

In modern economy, money is work as an intermediary. It is used as a medium of exchange for goods and services. It ncert notes of class 10th economics canada also used for payment of debts. Before the introduction of money, Indians used grains and cattle as money.

In this system goods and services was exchanged for another goods and services. It was also known as CC economy i. The modern coins are not made with the precious metals like gold, silver. The real values of the modern coins are less than its face value. Currency notes are also used as a medium of exchange in modern economy. The currency notes are made with paper.

The real values of the currency notes are less than its face value. So, it is used as a medium of exchange and accepted by the. In India, Reserve bank of India has authority to issue currency notes on behalf of the central government. In India, no individual can legally refuse to accept the rupees issued by the Reserve bank of India. People need only some money at a point of time.

So, people can deposit extra money and earn extra money, which is given on money already depositing in bank. Cheque work as an instrument for payment which is made by the paper. A person can directly transfer money to another person through cheque rather than in cash.

People deposit their money in bank and get some rate of interest as extra income. Banks hold only some percentage of their deposit in bank. In this case, money is provided as a loan with a higher rate of. The difference between interest on borrowing money and the interest of deposited money is the income for the bank.

Therefore, that person becomes better off than. Therefore, that person becomes worse off than. Interest rate is specified when a lender provides loan to the borrowers. A borrower will have to repay the amount taken from the lenders with the amount of.

In some case, lenders may demand collateral against loans. A lender can use the assets which are held by him as security until the amount of loan is repaid. The lender has right to sell the assets or collateral when the borrower fails to ncert notes of class 10th economics canada the amount of loan in a specified period.

In India Reserve bank of India is supervised the functioning of loan activities in formal sectors. In India, the rate of interest in informal sector is greater than the rate of interest in formal sector.

Rate of interest in formal sector is supervised by the legal authorities. The rate of interest is varying from person to person. There is no organization for ncert notes of class 10th economics canada loan in informal sector. Lenders can use any method to get back their money ncert notes of class 10th economics canada the borrowers.

Sometimes, the incomes of the borrowers become less compare than the amount which has to pay due to the high rate of.

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In this system goods and services was exchanged for another goods and services. Therefore, that person becomes better off than before. Search keywords Search. Sustainability of Development. The following tables elucidate upon each chapter and its constituents:. Public Facilities.

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Affix cleats of two-by-two two by four to a middle carcass sides or a stringer tops in sequence ncert notes of class 10th economics canada a rug could have something to decrease upon ? scottglatham writes: This would be great. It displays the knowledge in constructing the total lot of boats with households as well as organisation groups.

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