The Example of the 2007-8 Financial Crisis Shows

question 44

Multiple Choice

The example of the 2007-8 financial crisis shows:

• A)The scale of the impact of internationalization on the modern economy
• B)Banks should be forbidden to trade internationally
• C)Regulation of banks should be much stricter
• D)Nothing: banks don't trade, they merely move money around.

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Definitions:

Customer Privacy

The protection of personal information shared by customers with businesses, ensuring that it is not misused or disclosed without consent.

Financial Institutions

Organizations such as banks and credit unions that provide financial services including deposits, loans, and investments.

EFT

Electronic Funds Transfer, a system of transferring money from one bank account directly to another without any paper money changing hands.

Preauthorized Payment

A prearranged payment that allows a payee to automatically withdraw funds from a payer's account as per the agreed terms, usually on a recurring basis.