Financial Institutions and Markets
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Questions and Answers

Which term refers to the combination of financial institutions and markets?

  • Financial system (correct)
  • National economy
  • Financial backbone
  • Economic development

    • What role does the financial system play in the economic development of a nation?

  • Foundational role (correct)
  • Minor role
  • Insignificant role
  • Supporting role

    • Why may the role of the financial system not be apparent at first?

  • It is not well established
  • It is not well understood (correct)
  • It is not important
  • It is not functioning properly

    • What is the importance of the efficiency of the financial system?

    <p>Significant importance</p> Signup and view all the answers

    What does the financial system serve as for the national economy?

    <p>Backbone</p> Signup and view all the answers

    Which term refers to the principles and regulations established in a community by some authority and applicable to its people?

    <p>Legislation</p> Signup and view all the answers

    What is the purpose of legislation and custom in a community?

    <p>To regulate the community</p> Signup and view all the answers

    How are principles and regulations in a community enforced?

    <p>By judicial decision</p> Signup and view all the answers

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