One Word Answers
Short Answer TypeWhy do the movement of goods and services from one place to another require fast and efficient means of transport. Explain with examples.
People deposit their money with banks by opening a bank account. Banks keep the money safe and provides interest on the deposited amount. The deposited money can be withdrawn from banks as when required on demand. Bank deposits also facilitate easy transfer of money through cheques, demand drafts and internet banking.
Banks keep only 15% of their total cash deposits to meet the everyday withdrawal demands of their customers. Major portion of the remaining deposits are used to give loans to people at specific rate of interest.
Examine any three conditions which should be taken care of by multinational companies to set up their production units.
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