banks a company which accepts deposits and issues


Banks: A company which accepts deposits and issues new loans. It makes profit by charging more interest for loans than it pays on deposits, and through several service charges. By issuing new loans (or credit) banks create new money that is necessary to promoting economic growth and job creation.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: banks a company which accepts deposits and issues
Reference No:- TGS0332446

Expected delivery within 24 Hours