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in Social Science by (44.1k points)
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Define in one sentence of the following terms:

1. Barter

2. Forms of Money

3. Deposits

4.Savings

5. Loan

6. Interest

7. Cheque

1 Answer

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Best answer
  1. Barter: Exchange goods or services for other goods and services 
  2. Forms of Money: Coins, notes, Hundis, receipts, bills, etc. 
  3. Deposits: Put down in a specific account. 
  4. Savings: A reduction in money expenditure for future purposes. 
  5. Loan: A sum of money that is Pent to someone. 
  6. Interest: Money paid for the use of money that is being lent
  7. Cheque: A written order to a bank to pay a stated sum from an account to a specified person. 

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