HELP PLEASE Answer each of the following questions in complete sentences.
Banks are businesses. Like other banks, they seek profit. How do they earn profit?

Why might an individual want to use a bank? Give an example of why a person would use a bank.

Why might a business want to use a bank? Give an example of why a business owner would use a bank.

What is the Federal Reserve?

The money supply is the total amount of money available in the economy. How do changes in the money supply affect people and businesses?

How does banking affect the money supply?

What would happen if banking didn’t exist?

1. Why might an individual want to use a bank? Give an example of why a person would use a bank.

A person who might not be able to pay some bills might go to a bank and take out a loan or might use a checking account to store money.

2. Why might a business want to use a bank? Give an example of why a business owner would use a bank.

A business might use a bank to take out a loan.

3. What is the Federal Reserve?

The Federal Reserve is the central banking system of the United States.

4.  How does banking affect the money supply?

Banking affects the money supply by interacting with the economy by giving loans and taking interest.

5. What would happen if banking didn’t exist?

Banks allow the population to store their money in a safe way, without banks people would have to go back to a bartering system.

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