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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why are banks called “financial intermediaries”?

To determine

The reasons because of which the banks are known as financial intermediaries are to be determined.

Explanation

Financial intermediaries are those who facilitate the channeling of funds between lenders and borrowers. Bank also accepts the savings from public, pay them interest rate ...

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