Final answer:
Statements 8, 9, and 10 regarding financial systems and institutions are all true. These include a network of businesses providing financial services, organizations that facilitate financial transactions, and the collective interaction among various financial entities within the economy.
Step-by-step explanation:
The statements about financial systems and institutions, provided by the student, can be examined for their truthfulness detailing their functions within the economy.
Statement 8: Financial systems are businesses that provide different types of financial services to customers. This statement is True. Financial systems comprise various businesses such as banks, insurance companies, and pension funds that offer an array of services including savings, loans, and investment products. These services assist customers in managing their money effectively.
Statement 9: A financial institution is an organization that facilitates financial transactions. This statement is also True. Financial institutions, such as banks and credit unions, provide a secure environment for individuals and businesses to conduct financial transactions like deposits, withdrawals, transfers, and loans.
Statement 10: A financial system is a network of financial institutions. This statement is True as well. A financial system is indeed a network that includes a range of financial institutions, markets, and instruments that work together to facilitate the flow of funds and the exchange of goods and services within an economy.