GCE Economics 2023 Objective — Question 39
Question 39 of 50 from the General Certificate of Education (GCE) Economics 2023 Objective paper, with the correct answer and a full explanation.
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Commercial banks help in economic development mainly by A. acting as intermediaries between lenders and borrowers B. giving financial advice to the government C. acting as trustees and executors of wills D. serving as custodians of valuables
- A. acting as intermediaries between lenders and borrowersCorrect
- B. giving financial advice to the government
- C. acting as trustees and executors of wills
- D. serving as custodians of valuables
Explanation
Commercial banks mainly promote economic development by acting as an intermediary between lenders (savers) and borrowers, channelling funds into productive use.
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