A well functioning financial system helps to promote economic growth and stability.
Subtopic: Banks and other financial institutions

Question

Quizplus · Accepted Answer

Banks and other financial institutions play a crucial role in promoting economic growth and stability by providing access to financial services, facilitating capital investment and savings, and helping to manage risk in the economy. They also serve as a transmission channel for monetary policy and contribute to the allocation of resources in the economy. Therefore, a well functioning financial system that includes banks and other financial institutions is essential for sustainable economic growth and stability.

A Well Functioning Financial System Helps to Promote Economic Growth