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Financial sector includes _______.( Fill in the blank with correct alternative)
Banking and non banking financial institutions
Stock exchange market
Foreign exchange market
All of the above
- Option 1: Banking and non-banking financial institutions
- This includes entities like commercial banks, credit unions, and financial service companies.
- They provide services like loans, savings accounts, and financial advice.
- Option 2: Stock exchange market
- This is a platform for buying and selling stocks, bonds, and other securities.
- It plays a crucial role in the economy by enabling capital formation.
- Option 3: Foreign exchange market
- This market deals with the trading of currencies and is crucial for international trade.
- It determines the foreign exchange rates.
- Option 4: All of the above
- All the above components are indeed parts of the financial sector.
- They collectively contribute to the functioning and stability of global and local economies.
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