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Classwork Exercise and Series (Economics-SS3): Elementary Theory Of Income Determination (II)

The circular flow of income circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents The flows of money and goods exchanges in a closed circuit and correspond in value, but run in the opposite direction. The circular flow […]

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Classwork Exercise and Series (Economics- SS3): Elementary Theory Of Income Determination (I)

The concept of savings Saving is income not spent, or deferred consumption. A method of saving includes putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving also involves reducing expenditures, such as recurring costs. It is any income not used for immediate consumption. Savings is

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Classwork Exercise and Series (Economics- SS3): Commercial Banks

Definition of a bank A bank is a financial institution licensed as a receiver of deposits. It is a commercial institution that performs financial activities. A bank is also an institution that creates money and give out loans to people. It is a place where money and other valuables are kept. Meaning of commercial banks

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