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Barter System : Goods are exchanged without use of money. Double Coincidence of wants : In exchange of goods both parties have to agree to sell and buy each others commodities. In a barter system double coincidence of wants is an essential feature.
Medium of Exchange : Money act as an intermediate in the exchange process. Currency is authorised by the government as medium of exchange.
Loan Activities of Banks
Terms of Credit
Formal Sector Credit in India
Loans from banks and co-operatives Functions of Reserve banks.
Informal Sector Loans
The informal lenders, traders, employers, relatives and friends etc.
1. How does money solve the problem of double coincidence of wants? Explain with an example.
2. What is check? How payments made with cheques? Explain with example.
3. How does RBI control the functioning of other banks? Why it is important
4. Why people take more loan from Informal Sector.
5. Compare the employment conditions prevailing in the organised and unorganised sectors.
6. Explain the objective of implementing the NREGA 2005