Question

I have ADHD where it is very hard for me to focus and concentrate on this assignment. I need of help asap please help

Answer 1

Currency- A procedure of finances used by several different countries.

Interest- The amount of money owned at a rate.
Money Supply- The manufacturing of cash, credit, debit, and other forms of money

Profit- An amount of money you earn after buying or selling items

Stock- The number of items that are available for sale

1. They earn profit by interest, and from other companies' shares.

2. An individual might want to use a bank to save money or valuable items in a safe environment. An example is when an individual stores gold in their locker to keep it safe.
3. A business might want to use a bank because they can credibly take account of their profit and money.

4. The Federal Reserve is the central banking system in the U.S. The Federal Reserve preserves a certain amount of money, that the nation will hold. Only under grave circumstances or for important foreign, on national affairs will that money be used.

Step-by-step explanation:

Answer 2

Currency: something that is circulated in exchange for something else.

Interest: Money or a currency paid at a certain rate for a certain amount of time.

Money supply: the total of all the money (in bank accounts and mutual funds) in an economy of a country at a certain day, time, and year.

Profit: a financial gain of money or something else

Stock: Goods kept at a business place or warehouse that people can exchange for currency

1. Banks seek profit by what banks call spread. Spread is the difference between interest rate on deposits, that they pay, and the money they make from interest rates on loans other people buy from them.

2. People use banks for financial safety, easy access to funds, and savings from check-cashing fees. For example, if there was a fire in someone's house, and all their money was there, they would be ruined and be poor. But if they keep their money in a bank, then it would be safe.

3. A business owner might want to use a bank because banks provide business-specific financial services that help business owners manage their money. For example, banks can have certain packages or deals that can help owners of businesses save money and manage it.

4. The Federal Reserve is the main bank of the US, and supports the US and it's economy.

5. Changes in economy affect businesses and people because it changes the amount of money they make or have to spend.

6. Banking affects money supply by increasing it. When they loan money out, it increases the amount in the economy at that time.

7. If banking didn't exist, it would be hard for lots of people to store money and buy things. In addition, it would mean lots of people would have to be really careful with their money because it's impossible to take out a loan to buy something expensive, like a car or house.