How are demand deposits accepted as a means of payment? -SST 10th

How are demand deposits accepted as a means of payment? -SST 10th
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. Demand deposits offer another interesting facility. It helps in making the payment in cheque. . A cheque is a paper instructing the bank to pay a specific amount from the person’s account to the other person or to the account holder. . Thus, we see that demand deposits share the essential features of money. . The facility of cheques against demand deposits makes settlement of payments possible without using cash. . Since demand deposits are accepted widely as a means of payment, along with currency, they   constitute money in the modern economy.
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Description : What are demand deposits? What are their advantages? -SST 10th

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