Question

Basic bank services such as bank accounts, bank deposits, and checking contribute to_____the control of cash.

Answer 1

Basic banking services like bank accounts, deposits, and checking contribute to the control of cash by facilitating transactions and providing storage and withdrawal options. Banks act as intermediaries between savers and borrowers, enabling the use of money for buying goods, paying workers, and saving. Various methods like direct withdrawals, checks, and debit cards allow individuals and businesses to access their money.

Step-by-step explanation:

Basic bank services such as bank accounts, bank deposits, and checking contribute to the control of cash. Banks facilitate the use of money for transactions in the economy because people and firms can use bank accounts when selling or buying goods and services, when paying a worker or being paid, and when saving money or receiving a loan. Banks play a crucial role in the financial capital market as financial intermediaries between savers and borrowers, and they allow for the storage and withdrawal of money as needed through various methods like direct withdrawals, checks, and debit cards.