A small ceramics producer has the following monthly figures and investment plan.
| Item | Amount |
|---|---|
| Customer payments made by debit card | £48,000 |
| Wages and supplier bills paid by online bank transfer | £41,000 |
| Cost of a new kiln | £36,000 |
| Producer's own funds available for the kiln | £16,000 |
Using the information in the table, explain two ways in which a commercial bank is important to the ceramics producer.
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.