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The following were the challenges faced by North Carolina’s banking system in the early 1800s:
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There was too much paper currency -
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The paper currency that was in circulation, which was actually a promissory note, had become a very common method of payment.
The problem of the storage and reciprocation of this currency had already started to become a huge problem.
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Rural areas did not have many banks -
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Though substantially large populations also lived in the rural areas, the network of banks had not yet reached rural areas. As a result, a large faction of the population was being left out of the banking system.
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Bartering and trading were very common -
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Though the system of paper money had bee introduced already, many people still continued to use the same old bartering system in which the exchanged commodities for commodities.
<u>Answer:</u>
The factors affecting the attention of an individual along with a temporary characteristics like time pressures or crowded stores are the ‘situational factors’.
<u>Explanation:</u>
- Most individuals who are frequent buyers of commodities choose spending less time on the selection of commodities.
- Such buyers prefer going with the stimuli that is provided by the packaging and the advertisement of the commodity.
- Moreover, such buyers are also intrigued by the crowd in the stores or the time pressure being experienced by them at the given moment.
Answer: Administrative lag
Explanation:
Administrative lag is defined as the lag of time that occurs between any issue identification and measure take to handle and correct the problem by finding solution.
In terms of economic field, the time required to recognize and realize the change in tax and the time to enact on those modification. This time gap is known as administrative lag.
Answer:
because the river's annual flooding ensured reliable, rich soil for growing crops
Explanation:
