Banking Began in

question 98

Multiple Choice

Banking began in

• A)biblical times.
• B)medieval times.
• C)the 19^th century.
• D)the 20^th century.

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Definitions:

Authority

The right or power to give orders, make decisions, and enforce obedience, often within a specific context such as governmental, organizational, or familial environments.

Norms

Established standards of behavior or guidelines that are considered acceptable within a certain group or society.

Monopolize Leadership

The act of dominating leadership roles or positions to the exclusion of others.

Traditional Authority

The norm in tribal and feudal societies, involves rulers inheriting authority through family or clan ties. The right of a family or clan to monopolize leadership is widely believed to be derived from the will of a god.