Question on: JAMB Economics - 2018
The savings deposit in a commercial bank is called____________?
A
near money
B
call money
C
capital
D
fund
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Correct Option: C
Savings deposits in a commercial bank are considered "near money" because they are highly liquid and can be easily converted into cash.
* **Near money** refers to assets that are not money but can be quickly converted into cash. Savings deposits fit this description.
* **Call money** refers to short-term loans that can be demanded back at any time.
* **Capital** refers to resources used in production.
* **Fund** is a general term and not specific to savings deposits.
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