Banks accept deposits from the public and keep them safe. They lend money to businesses and individuals, earning interest. Banks also provide facilities like savings accounts, loans and payment services, which help in economic growth and financial security.
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Sustainable development focuses on meeting present needs without harming future generations. It raises new issues like resource conservation, pollution control and renewable energy. Example: Using solar power reduces fossil fuel use, ensuring development that protects the environment.
Option (C) is correct because globalisation is encouraged when the government reduces trade barriers, lowers import–export taxes and removes restrictions on foreign investment. These steps attract global companies and promote free flow of goods, capital and technology.
Option A is correct because in a barter system, trade can only occur when both parties have matching needs. This “double coincidence of wants” makes exchange difficult and restricts trade opportunities, reducing overall economic efficiency and growth.
The World Bank gives priority to Per Capita Income as the main measure of development. It compares countries based on the average income earned per person, helping classify nations as rich, middle-income or poor economies globally. The correct answer is ...