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Q.

Demand deposits have the essential features of ____.


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Detailed Solution

Demand deposits have the essential features of money.
Every bank needed money to provide loans and keep inflation under control. Demand deposits are a good option for this because they are the cash that people invest in their banks by depositing it there. When necessary, this can be revoked at any time. Along with cash, it is commonly accepted as a form of payment and has the same value as money. These can also be paid for with a check instead of cash if you prefer. It is used by banks to provide loans by requiring "demand deposits" from borrowers of a certain amount.
 
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