Full question:
Explain the effect of saving on the individual and society and identify traditional and modern institutions of saving
Answer and Explanation:
Saving means putting aside some part of your income for future expenditures and not spending it on current expenditures. Saving helps one be prepared for future unforeseen events or needs that may require money expenditures. Saving has positive effects on the individual and society at large because it encourages financial security and investments which have positive multiplier effects on the economy.
Example of traditional savings institutions are Iquib and Idir in Ethiopia. These traditional savings institutions are financial associations that work by forced savings whereby individuals are required to keep a fixed amount of their income with the institution periodically in order to save money.
Modern saving institutions include banks and insurance companies.
Here is the answer. <span>In the sixteenth century, the idea of workhouses began to develop in Holland and other European countries. The idea behind workhouses was the offenders should perform some useful labor for society because of their crimes. Hope this answers your question.</span>
Answer:
<em>Moss </em><em>piglet</em>
Explanation:
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1. Long periods of drought and desertification
2. I believe is South Africa.
