A commercial bank accepts cash deposits from the general public and lends a portion of the money as loans to make profits. Commercial banks make profits by charging a high-interest rate on credit issued than the interest rate they offer on deposits. By accepting deposits and lending to other customers, commercial banks act as intermediaries between suppliers and users of credit.
Commercials are profit-making institutions. Although their primary function revolves around accepting deposits and issuing out loans, they also perform other duties such as;
Discounting bills of exchange
Overdraft facility
Agency functions, including payment functions and insurance of letters of credit and checks.
General utility services including foreign exchange transactions, underwriting securities, and safe deposits.
Social engineering is simply the use of deceit in order to manipulate individuals so that they can give out personal and confidential information about themselves which will be used for fraud.
The activities involved in social engineering are phishing, scams and hoaxes aimed at getting individuals to compromise sensitive data.
A decrease in aggregate demand causes the price level to fall. If the government takes no action to counter this, then the actual price level will be below the price level that people expected. Individuals will eventually correct their expectations of the price level. As they do so, prices and wages will adjust accordingly, shifting the aggregate supply curve to the right (down). For example if wages are sticky, in light of the lower price level, firms and workers will eventually make bargains for lower nominal wages. The reduction in wages lowers costs of production, so firms are willing to
