A Study of History Shows That One of the First

question 39

Multiple Choice

A study of history shows that one of the first services offered by banks was:

• A)equipment leasing.
• B)currency exchange.
• C)security brokerage and underwriting.
• D)sale of real estate.
• E)None of the options are correct

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Definitions:

Utility Function

A mathematical representation of how different combinations of goods or services lead to different levels of happiness or satisfaction for an individual.

Income

Earnings from work or investments, often measured in terms of money received over a period of time.

Utility Function

A mathematical representation of how different quantities of goods or services generate levels of happiness or satisfaction to the consumer.

Consumption

This term implies the act of using up resources or services to satisfy human wants, often measured to assess the economic activity within a country.