Answer:
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Explanation:
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Answer:
Internet Banks have lower overhead costs.
Explanation:
Online Banks and traditional banks are basically the same with the main difference being that Internet Banks have lower overhead costs. These are costs on the income statement usually including accounting fees, advertising, insurance, interest, legal fees, labor burden, rent, repairs, supplies, taxes, telephone bills, travel expenditures, and utilities. Since Internet Banks do not need many physical locations they save on many of these overhead fees.
People who make goods and services are called PRODUCERS.
They are called producers because they produce the goods and services needed by the consumers.
Consumers are people who requires the goods and services provided by the producers.
