A basic requirement of an effective financial system includes:
A) storing money
B) transferring money
C) designing money
D) all of the above

Question

Quizplus · Accepted Answer

Storing money (A) is an aspect of a financial system, but it's not a basic requirement. Designing money (C) is also not a basic requirement, as money already exists and doesn't need continual redesign. Transferring money (B), however, is a crucial aspect of any financial system as it allows individuals and businesses to exchange money for goods, services, and investments, making it the best choice for the basic requirement of an effective financial system.

A Basic Requirement of an Effective Financial System Includes