Basic requirements of an effective financial system include:
A)creating money
B)transferring money
C)accumulating savings
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

An effective financial system must have the ability to create money, transfer money, and accumulate savings in order to facilitate economic growth and development. Creating money provides the necessary liquidity for economic transactions, transferring money allows for the efficient movement of funds between individuals and institutions, and accumulating savings provides a source of investment capital for businesses and entrepreneurs. Therefore, all of the options listed are basic requirements of an effective financial system.

Basic Requirements of an Effective Financial System Include