lab Flashcards
1
Q
what is bank of england ?
A
uk centeral bank maintain financial stability issue legal tender set interest rate control national debt
2
Q
what is bank?
A
handles financial transactions and store moeny
they supply credit,hold deposits and make paymens
3
Q
what is building societies?
A
store money on behalf of customers
dont have shareholders on store exchange
4
Q
what is credit uniion?
A
not for profit orginisation
store money on customers behalf
5
Q
what is national saving and investment ?
A
give secure saving option
government backed
6
Q
what is insurance company?
A
business that protect against loss
7
Q
what is pension company?
A
sell policies to individual
allow them to save and find retirement
8
Q
what is pawn broker ?
A
individual loan money for personal object
