ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Saving: The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals, and funds for investing. Savings: Money set aside for a future use that is held in easily accessed accounts, such as savings accounts and certificates of deposit (CDs).

Detailed explanation-2: -Economists define saving as the setting aside of income for a. period of time so that it can be used later.

Detailed explanation-3: -saving, process of setting aside a portion of current income for future use, or the flow of resources accumulated in this way over a given period of time.

Detailed explanation-4: -Saving is setting aside money you don’t spend now for emergencies or for a future purchase. It’s money you want to be able to access quickly, with little or no risk, and with the least amount of taxes. Financial institutions offer a number of different savings options.