Question on: JAMB Economics - 2023
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Institutions serving as links between surplus and deficit units can be identified as
A
tax officers
B
pension offices
C
financial intermediates
D
acceptance houses
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Correct Option: C
Institutions serving as links between surplus and deficit units are commonly known as financial intermediaries. These institutions play a crucial role in facilitating the flow of funds between those who have surplus funds (surplus units) and those who need funds (deficit units).
Examples of financial intermediaries include:
- banks
- credit unions
- insurance companies
- mutual funds
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