It cannot be denied that since its origin it has served the development and preservation of hindu. Purchase protection, which refunds your money if a brandnew purchase is lost, damaged, or stolen. But if we observe the present day problems we find that money also played an important role in creating and promoting these problems. Merit and demerit goods involve making a value judgement that something is good or bad for you. The use of a debit card in this manner may have a daily limit, with the maximum limit being the amount of money on deposit. Plastic recycling recovers the scrap or the waste plastic and reprocesses the material into useful products, the plastic is nonbiodegradable, it includes melting down soft drink bottles and casting them as the plastic chairs and the tables, plastics are recycled during the manufacturing process of plastic goods such as polyethylene film and the bags. Plastic bumpers absorb shock, plastic dashboards and door panels are a little kinder on your head during a wreck, and plastic fuel tanks minimize explosion risks.
It is durable, low cost, water resistant, lesser energy and heavy chemicals requirements in manufacture and are light weight. As it is said, money can serve as a good slave, but not as a good master. Merits and demerits of plastic money based on experiences of peoples free download as word doc. If you have the balance you can go for shopping and can buy things with it without the cash in pocket. A cashless society might sound like something out of science fiction, but were already on our way. The problem is that if they are provided solely by the private sector then they tend to be underconsumed, so, again, the government has to step in to correct the market failure. Study of merits and demerits of plastic money based on experience of people points. A credit card has become an indispensable part of our lives, with its ease of use and convenient payback options.
These cards mainly just kept customers loyal to the company. It is hard to break down which means that the landfills and seas being affected by plastic will. The term plastic money refers to the hard plastic cards which are used instead of actual bank notes. Several powerful forces are behind the move to a cashfree world, including governments and large financial services companies. A debit card used in this manner is similar to a secured credit card. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. Money in the form of currency notes can be cheaply remitted from one place to another in an insured cover. Some pos terminals allow the user of a visa or mastercard debit card to choose whether the purchase is a credit or debit purchase. What are the advantages and disadvantages of plastic money.
Merit goods are products, such as education, which consumers may undervalue but which the government believes are good for consumers. It was the fact that thirty years ago, if you had a credit card and many people didnt you probably had only one, but now days the use of plastic money has become so common that according to the stats today, the typical american adult has four or five cards and uses them in one out of every four transactions. Bioplastics come from natural sources, including crops like corn and switchgrass. A pigouvian tax is a government cost on activities that create socially harmful externalities. Debit cards is the most convenient way of spending your money instead of carrying cash all around and then worrying about losing the same.
Merit goods are products, such as education, which consumers may undervalue but which the. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. Like conventional money, plastic money can function as a medium of exchange, a unit of account and a store of value. Chargit chargit was the first actual bank card and was issued in 1946. Credit card reliance and have cooked up many ways to help you. However, credit cards can becomes debt traps if not used correctly, or if you spend more than you can repay when the bill comes around. Use custom search function to get better results from our thousands of pages use for compulsory search eg. Read this comprehensive essay on merits and demerits of caste system in india. Inductive method is an important procedure to prove a universal law. In spite of various demerits, caste system in india has been proved to be a stabilizing and interacting force.
Plastic money has brought a revolutionary change in the economy. Your credit score is a measure of how creditworthy you are that is, how likely you are to pay money back on time when you borrow it. Easy to handle it prevents to carry out heavy wallets, hence, reducing the chances of theft. It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001. Based on experiences of peoples introduction introduction to plastic money plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. The seven advantages of plastic money called as the credit card. It has made it too easy for us to buy things we normally could not afford and in such a scenario it is important to understand the merits and demerits of plastic money. Charge cards laid the groundwork for debit and credit cards. Meritdemerit compact disc recycling system request pdf.
Dec 10, 2017 plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. They can come in many different forms such as cash cards credit cards debit cards prepaid cash cards instore cards 3. There are many advantages and disadvantages of using plastic material in daily life. Explain the differences between merit goods, demerit goods.
Inductive and deductive methods of teaching science. The driver of a noncompliant vehicle doesnt necessarily suffer. The money as medium of exchange played an important role by having put to an end the demerits of barter system. Plastic money has not only provided us with convenience, but it has also eliminated the inconvenience that is caused in carry cash. Currency notes, therefore, are the cheapest media of exchange. However, supporters of cannabis might argue cannabis. Jun 29, 2018 advantages and disadvantages of plastic full essay in points disadvantages of plastic. Biodegradable plastics also help conserve petroleum supplies. Easy access to money in the situation of instantaneous want for money, one can withdraw debit the demanded cash amount from the account and. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational problems, foreseeing and plugging the weak spots of the cryptography based system.
A study on the importance and popularity of plastic money in aluva doi. Now coming to your concern how dependent should should be people in india. Lenders like our credit card reliance and have cooked up many ways to help you get the most from your credit card. Explain the differences between merit goods, demerit goods and public goods. With a history of plastic money, you cannot ignore charge cards. Public, merit and demerit goods scool, the revision website. Most of us use plastic money today, but it is necessary that we clearly understand the merits and demerits of it. Even critics of the mainstream financial system and governmentissued currencies favor doing away with cash. It was in the 1950s the concept of plastic money came into being. Are you looking for merits and demerits of plastic money pdf file. We use cookies to offer you a better experience, personalize content, tailor advertising, provide social media features, and better understand the use of our services. Plastic money is also known as polymer money which was first introduced in the 1950s has reduced the risk of carrying huge cash.
Technology has changed the way we deal with the purchase of goods and services in daily life. One major problem with plastic is that it often takes an extremely long time for it to break down once discarded, leading to massive problems with landfill waste and posing a danger to wildlife. Traditional plastic comes from heating and treating oil molecules until they turn into polymers, representing about 2. If the money is backed by something of value it is ok. As like advantages the first disadvantages of plastic is the strong and durability is beneficial when it comes to protection but these same features turn evil when it comes to decomposition. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services.
Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. Plastic money also keeps track of the transactions as they are incurred along. Study of merits and demerit of plastic money based on. In this method, this is done by showing that if the law is true in a particular condition, then it will also prove to be true in. Plastic money was introduced in the 1950s and is now an essential form of immediate payment, which reduces the risk of handlings a huge amount of cash. According to some european writers, it is this principle of hindu social constitution that has enabled the nation to sustain without being shattered to pieces, that the tremendous stocks given by the numerous political conventions and religious upheavals that have occurred during the last thousand years. Unbacked money has always collapsed within forty years. Debit card is plastic money as it is quite often referred as and is similar to credit card but is linked to your bank account. Merits and demerits of plastic money based on experiences. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. Thus paper money can better meet the requirements of trade and industry. Its one of the main reasons cars are able to get safer and safer everyday.
The problem is that if they are provided solely by the private sector then they tend to be underconsumed, so, again, the government has. Advantages and disadvantages of plastic essay in points. Conclusion of merits and demerits of plastic money. What are the advantages and disadvantages of money. Request pdf merit demerit compact disc recycling system over this recent year, malaysians have been generating wastes at an alarming rate, for instance, compact discs. Mar 14, 2016 debit cards is the most convenient way of spending your money instead of carrying cash all around and then worrying about losing the same. Plastic money is one of the most common reasons for it. While using plastic money modern technology is used for digital transactions. Search cloud merits and demerits of plastic money pdf file important. Debit card advantages and disadvantages advantages. Cannabis is widely considered a demerit good it contributes to lung cancer and can lead to psychological problems, such as paranoia. Introduction the development of information technology and emerging a number of new innovations are taking place in the area of retail payments known as electronic money allaham, 2009 or plastic money. Advantages of plastic money there are several advantages of plastic money as seen in the above illustration.
Introduction meaningdefinition needs types evolution of money merits and demerits conclusion referance. What are the demerits and advantages of using plastic. An externality is an activity that creates a negative effect on others in a society but not necessarily the person who does that activity. These cards can be used to buy things from the market. This article gives you a brief idea of the main advantages and disadvantages of plastic money. Plastic money is the special term used for the hard cards in banks instead of normal paper money. A study on the importance and popularity of plastic money in. Plastic money is referring to the credit cards or the debit cards that we use to. The answers provided by cason kim appear to hit the most immediate benefits so i wont repeat them here. What are the advantages and disadvantages of plastic material used in daily life. Credit cards bring in easy cash at your disposal even when your wallet runs out of cash. However, plastic money has its share of issues that one must be careful about. Found a link between the diffusion of plastic money and reductions in the demand. Many studies comparing plastic versus paper for shopping bags show that plastic bags have less net environmental effect than paper bags, requiring less energy to produce, transport and recycle.
Only then we will be able to use cards carefully and wisely. With a debit card, the best you can do is complain to the seller and hope to get your money back. For example, cash cards, debit cards, credit cards, prepaid cards, and store cards. Both abhishek menon and prithvi chatterjee have written answer to your question quite correctly. Plastic recycling advantages and disadvantages science online. Yes, the advantages of plastic money over cash has made it a best friend of many. On top of that, some credit cards offer additional perks that protect you in case a purchase goes wrong. Peter, a young mba graduate joins a large software firm as a business development executive. What are the merits and demerits of inductive method of. State the similarities and differences add conclusion definitions. Advantages and disadvantages of plastic full essay in points disadvantages of plastic. If during such times, plastic money is your only source of cash, you can be in a tricky situation. Using a credit card regularly, and paying the bill on time, is one of the easiest ways to build your credit history and develop a strong credit score. Dec 16, 2017 plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days.
Plastic money free download as powerpoint presentation. Plastic recycling advantages and disadvantages science. It comes handy specially when you are into a lot of travelling and carrying cash is a big hassle. Merits and demerits of plastic money based on experiences of. You can have your jobs check directly deposited into the bank. Get details of merits and demerits of plastic money pdf file. Its quantity can be increased or decreased at the will of the currency authority.
But governments have always reneged on the deal and slipped the people counterfeit money. The seven advantages of plastic money called as the credit. The discounts, offers and deals that a credit card offers are unmatched by any other financial products, and spell a bonanza for the wise user. Companyissued charge cards can be found as far back as the early 1900s.
The loss which a country suffers from the wear and tear of metallic money is also avoided. We collected most searched pages list related with merits and demerits of plastic money pdf file and more about it. A study on the importance and popularity of plastic money. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. Dec 14, 2019 merit and demerit goods involve making a value judgement that something is good or bad for you. What are the benefits of using plastic money cashless. The caste system has worked as a constitution of hindu society. You can buy what you want without having the money right then to buy the item as long as you do not go over the cards limit. Meritdemerit compact disc recycling system request. Mar 26, 2020 a cashless society might sound like something out of science fiction, but were already on our way. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handlings a huge amount of cash.
Its tough, resilient, and excellent at absorbing shock. Biodegradable plastics use alternate materials or specialized enzymatic. Mar 19, 2020 a pigouvian tax is a government cost on activities that create socially harmful externalities. It gives me immense pleasure to take the opportunity to all the people who are directly or indirectly involved in the completion of my project based on study of merits and demerit of plastic money based on experiences of people. If a country uses paper money, it need not spend anything on the purchase of gold or minting coins. Merit and demerit goods merit goods merit goods are also things that are good for you, but unlike public goods they can be provided privately.
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