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- What is the economic benefit of
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Card 77 / 100: What is the economic benefit of a credit intermediary such as a bank?
Answer:
The bank matches up savers with borrowers. The bank's presence helps lower the cost of finding each other, and it makes the process safer for lenders. Sample Partial Credit Answer Businesses that need funds can borrow them from a bank.
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Dr.Robert MurphyAssociated Scholar
Mises Institute
USA
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Attribution:
Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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