Money and Credit

When both parties have to agree to sell and buy each others commodities. This is known as _______________________________________

• medium of exchange

• barter system

• double coincidence of wants

Modern forms of money include currency ________________________________

• Gold and digital numbers

• paper notes and coins.

• Cowrie and cattle

The deposits in the bank accounts can be withdrawn on demand, these deposits are called ___________________

• term deposits

• reserved deposits

• demand deposits.

A paper instructing the bank to pay a specific amount from the person’s account to the person in whose name the paper has been made is called a _________________________

• Cheque

• Lender

• Borrower

. _____________________ plays a vital and positive role in helping to increase production.

• Credit

• Cooperatives

• Banks

___________________ is an asset that the borrower owns (such as land, building, vehicle, livestock's, deposits with banks) and uses this as a guarantee to a lender until the loan is repaid.

• Interest

• Collateral

• Documentation

Interest rate, collateral and documentation requirement, and the mode of repayment together comprise what is called the ____________________________.

• conditions of burrowing

• term deposits

• terms of credit

In India, the _________________________ issues currency notes on behalf of the central government.

• Central Bank of India

• State Bank of India

• Reserve Bank of India

_________________________________, the founder of Grameen Bank, and recipient of 2006 Nobel Prize for Peace

• Professor Muhammad Yaman

• Professor Muhammad Yunus

• Professor Muhammad Yusuf

Cheap and affordable ______________ is crucial for the country’s development.

• loan

• credit

• money