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How banks help expand and maintain the economy?
Banks help expand and maintain the economy by providing loans and credit to businesses.
How do banks help the nation's economy?
the bank help the economy by keeping citizens out of debt and that's my answer and im stupid so dont listen to me
How do banks help expand the economy?
by loaning money
Why do small firms exist?
Small firms exist because they help strengthen the economy. Smaller firms create jobs and pay taxes that help support the community.
How do banks help in economic development as a whole?
A Bank is an institution that serves as the financial intermediary in the economy. They are responsible for cash flow within the nation's economy. Their main functions include:Accepting DepositsLending LoansProviding Bank AccountsProviding Credit Cardsetc
Role of commercial banks in developing countries?
The can help to grow the country. They will provide money to the growing government along with issue money to the people to use to grow the economy.
What are three types of banks found in many economies?
In many economies there are three basic types of banking institutions. This does not apply to all economies. Here are three commonly known types: A. A central banking system that is created by a government to help regulate the monetary policies of an economy and often act as the government's banker; B. Commercial banks that handle both consumer & business transactions such as lending; and C. Wholesale banks, which deal primarily with large corporate organizations. There are many other smaller types of banking such as credit unions & savings banks.
What are the importance of banks in the economy?
Banks do not create any money. It only borrow and lend money from their customers. Banks are very important to economy because if bank have certain amount with them then bank can invest in other sectors. which will help in long term by giving them return. Banks have a certain team to do that.
How can you describe the functions of the Central Bank of Nigeria with the functions of the Central bank of any advance country?
it instruct other banks for the implementation. it supervise policies and regulation of the banks. it help govrnment to release the fund and advice government on economy. it incharge of the nation currency
How does saving help the US economy?
1) expansion of the economy requires capital; money in saving is used for expansion.2) money saved is also money invested in the economy.3) banks use moneyin savings to make loans to businesspeople.4) buisnesses that save are able to reinvest in themselves.
What was the function of the bank?
The main function of a bank is to play the role of a financial intermediary in the economy. They help keep the cash flow going in the economy by collecting deposits from people with surplus and granting loans with people who need funds. Without banks, the economy may come to a standstill within just a few days.
What are main function of a bank?
The main function of a bank is to play the role of a financial intermediary in the economy. They help keep the cash flow going in the economy by collecting deposits from people with surplus and granting loans with people who need funds. Without banks, the economy may come to a standstill within just a few days.
