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GCE Commerce 1989 Question 59

Question 59

Banking

Which of the following institutions provides the volume of credit to the public?

  1. A.Building societies
  2. B.Mail order business
  3. C.Department stores
  4. D.Finance houses
  5. E.Bank
Show the answer and explanation

Answer: E (Bank)

Explanation

Banks, through loans and overdrafts, provide most of the credit used by the public.