Problem
For this task you are required to demonstrate your knowledge of the different financial markets and systems.
For the financial markets and systems listed in the table below:
1. Describe the system (what it is) and
2. Explain its role (what it does) - a minimum of two points is required.
An example describing the tax system has been provided for you.
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Financial market/system
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Description
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Role (what it does) - minimum of two points
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Tax system
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The tax system is the set of rules and regulations used by a government to assess and collect tax monies. This money is redistributed by the government to pay for government services.
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1. Provides for collection of monies by the government for re-distribution to pay for government services.
2. To provide a system of paying for public goods and services that is supposed to ensure that each person/entity is taxed on the basis of their ability to pay and all pay their 'fair' share.
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Share market
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Bond market
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Insurance market
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Lending services
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Blockchain
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