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Social Studies, 25.05.2021 08:50 devenairefp85xfg

Answer each of the following questions in complete sentences. 1 Banks are businesses. Like other businesses, they seek profit. How do they earn profit?

2 Why might an individual want to use a bank? Give an example of why a person would use a bank.

3 Why might a business want to use a bank? Give an example of why a business owner would use a bank.

4 What is the Federal Reserve?

5 The money supply is the total amount of money available in the economy. How do changes in the money supply affect people and businesses?

6 How does banking affect the money supply?

7 What would happen if banking didn’t exist?

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