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It channels funds from savers to borrowers.
Lenders, borrowers, financial institutions, and markets.
Through supply and demand forces.
They facilitate the flow of funds between lenders and borrowers.
Surplus units provide funds; deficit units use them.
Lenders' and borrowers' needs must match exactly.
To allocate funds efficiently among competing demands.
Transparency, liquidity, and low transaction costs.
It helps allocate resources based on supply and demand.
It enables 24-hour trading across international markets.