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2.8 The role of money and financial markets

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Question 3

A furniture maker receives £25,000 from sales in March. It plans to spend £20,000 of this on a new lathe in September.

Which service from a commercial bank is most useful to the furniture maker between March and September?

[1]
A

Setting Bank Rate, which decides the interest the firm earns on its savings

B

Holding the sales revenue in a deposit account until the firm withdraws it

C

Collecting premiums so that the firm is paid out if its workshop is damaged

D

Lending the firm £20,000 so that it can pay for the lathe in September

Markscheme

2.8 The role of money and financial markets Questions

  1. GCSE
  2. /Economics
  3. /2.8 The role of money and financial markets

82 exam-style questions on OCR GCSE Economics 2.8 The role of money and financial markets, covering 2.8.1 Money as a medium of exchange, 2.8.2 Role of the financial sector, 2.8.3 Importance of the financial sector, 2.8.4 Interest rates and saving, borrowing, investment, and 2.8.5 Effect of interest rate changes. Each one has a worked solution and a mark scheme showing where the marks go.

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