Why Is a Checking Account Also Referred to as a Demand

question 61

Essay

Why is a checking account also referred to as a demand deposit?

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Definitions:

Preoccupation

The state of being absorbed with or engrossed in a particular thought, activity, or concern, often to the exclusion of other considerations.

Arranged Marriages

Marriages where partners are selected by individuals other than those getting married, often with consideration of familial, cultural, or social interests.

Collectivist

Pertaining to cultures or societies where people are integrated into strong, cohesive groups and prioritize the group's needs over individual desires.

Individualist

A person who prioritizes personal independence and self-reliance over collective goals or group cohesion.