Explanation

Keeping savings in banks is beneficial because:

- It is safe – protected against theft or loss.

- Earns interest – helps your money grow over time.

- Can be withdrawn anytime – offers liquidity and convenience

Explanation

When the real interest rate is high, it generally leads to higher overall interest rates in the economy

Because lenders demand higher returns to compensate for inflation and opportunity costs.

Explanation

Dear Money is expensive to borrow because the rate of interest is high.

This is because people prefer to save when interest rates are high and spend or borrow when rates are low.

Put differently, the cost of money becomes more expensive.

Explanation

Attributes of excellent customer service include:  

- Smiling and greeting to create a friendly atmosphere  

- Welcoming by name adds a personal touch  

- Listening carefully shows respect and ensures correct assistance

Explanation

Good customer service requires a combination of skills like:  

- Being organized – to handle multiple tasks efficiently.  

- Managing time – to serve customers promptly.  

- Being assertive – to handle difficult situations confidently and respectfully.

Explanation

Bookkeeping involves the recording of financial transactions in a systematic and organized manner.

Explanation

Capital is the initial investment or money brought into the business by the owner.

Explanation

Banks typically require documents like CNIC, utility bills (for address verification), and business letterhead, but not personal asset details.

Explanation

A partnership is a business owned and run by two or more individuals sharing profits, responsibilities, and capital.

Explanation

When banks give out loans, they credit the borrower's account, increasing the money supply without printing new currency.