Random
Commodity exchange system
Barter
Predicting of interest
Forecasting
Paper money and coin money
Fiat money
I am limited in nature. You can call me scare too. What am I?
Resources
Remember: wants are unlimited and resources are limited
Excess of income over expenditure
Savings
If you don't pay attention to me, I keep on adding up. What am I?
Interest
Print me more and I will become cheap in nature. What am I?
Money.
Causes hyperinflation
The liberty to Live your life at your own terms without worrying about finances
Financial freedom
Cost of next best alternative. You give me up to have something else. What am I?
Opportunity cost
A business spends me on day to day basis what am I?
Revenue expenditure
Cost of production increases and that causes increase in price of the product. What phenomenon is this?
Cost push inflation
I am a financial institution licensed to receive deposits and make loans
Bank
I am a bill of exchange. A short Bank document but not a legal tender. You can refuse taking me too.
A cheque
Components of a cheque
Date
Payee
Amount in words
Amount in numbers
Sign of the payer
I assure payment between a payee and payer but it's more secure and less vulnerable to forgery. What am I?
Demand Draft
Bank creates more money. What phenomenon am I?
Money multipler
Services where there is public dealing by bank!
Retail banking services
KYC full form and need?
Know your customer
Not : kill your customer
Types of bank accounts
Savings and current
Don't pay cash or any physical form of money.
Go to a restaurant and scan me. What am I?
UPI
TVM full form and formula
Time value of money
PV (1+I/n)n*t
CI full form and uses
P((1+I/n)n*t-1)
You will find me in rural area only
Indigenous bank
I am established only for industrial development
Industrial banks
I deal with all commercial activities
Commercial bank