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How does borrowing help a household spread its spending?
A
- In good times, it spreads credit across the economy.
- In bad times, it spreads failure between households and firms.
B
Financial and related professional services produced about 11% of UK output in 2025.
C
Insurance enables firms to take risks they might otherwise refuse, such as shipping goods.
D
It lets a household buy a house or car now and repay over several years.
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2.8.3 Importance of the financial sector Flashcards
20 flashcards on OCR GCSE Economics 2.8.3 Importance of the financial sector: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.