Explain the Six Functions Performed by the Financial System

question 95

Essay

Explain the six functions performed by the financial system.

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Definitions:

Socio-Economic Development

The process of enhancing the economic and social well-being of a community or region, typically through improvements in education, healthcare, and infrastructure.

Rio +20 Corporate Sustainability Forum

An international conference dedicated to promoting sustainable development practices among corporations, held as a part of the Rio+20 United Nations Conference on Sustainable Development.

Closed-Loop

A system or process that is self-regulating through feedback, ensuring that the system operates within its intended parameters.

Corporate Governance

A set of guidelines, methods, and mechanisms that dictate how a business is overseen and regulated.