Answer:
Explanation:
1. Banks offer mostly services and practically no goods. Banks allow depositors to earn interest on their money, and they can supply borrowers with loans to buy houses, cars, etc. The interest from these loans is one of they ways they profit.
2. An individual would want to use a bank because of some reasons. One is that it is a safe place to keep their money. Another reason is that there is an interest when you put your money in a bank. Which means your money will continue to grow.
3. Banks can be used as a safe way to store your money and belongings. It is a good way to build up savings and have a conservative investment. It is also often used to finance bigger projects that you intend to use to increase your lucrative gains and eventually pay back the loan that you took to finance the project.
4. The Federal Reserve System is the central banking system of the United States of America
5. Changes in the money supply affect people and businesses in a variety of ways. The size of the money supply can increase and decrease the cost of borrowing or the rate of interest thus making it easier or harder for businesses and individuals to borrow money. Also the size of the money supply or a nation's monetary policy can influence inflation and the growth of an economy which influences both individuals and businesses as well.
7. If there are no banks, the one with muscle power would own the largest chunk of money. Apart from this, people would shift to barter system and no one would trust other's intention to pay for goods and services. Printed money would lose its charm and soon be replaced by coins of copper, brass, silver and gold
