For simplicity, NCERT clubs all forms of assets other than money, such as landed property and bullion, into a single category called:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → bonds
People can hold wealth as land, bullion, bonds or money. To keep the theory simple, every asset other than money is treated as one group called bonds.
NCERT (2026-27): “The Speculative Motive An individual may hold her wealth in the form of landed property, bullion, bonds, money etc. For simplicity, let us club all forms of assets other than money together into a single category called ‘bonds’. Typically, bonds are papers bearing the promise of a future stream of monetary returns over a certain period of time. These papers are issued by governments or firms for borrowing money from the public and they are tradable in the market.” |