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WAEC Economics 2023 Question 39

Question 39

Financial Institutions

Commercial banks help in economic development mainly by

  1. A.acting as intermediaries between lenders and borrowers.
  2. B.giving financial advice to the government.
  3. C.acting as trustees and executors of wills.
  4. D.serving as custodians of valuables.
Show the answer and explanation

Answer: A (acting as intermediaries between lenders and borrowers.)

Explanation

Banks channel savings into loans for investment.