WAEC Economics 2023 Objective — Question 39
Question 39 of 50 from the West African Examinations Council (WAEC) 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 help finance from one section of the economy to another where there is deficit finance, thereby promoting economic growth and development.
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