What is the term for a company that provides loans to individuals but does not accept deposits like a traditional bank?

Multiple choice question for Basic of Economics. Select an option, then review the explanation below.

Explanation

A finance corporation is an entity that offers loans to individuals without accepting deposits, differentiating it from banks. Other options such as cooperative companies or limited companies do not specifically describe this function.

Practice related questions from the same subject.

1.Which of the following best describes deflation?
2.Under what condition can two nations benefit from engaging in international trade?
3.Which of the following represents a legitimate form of currency?
4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?

What is the term for a company that provides loans to individuals but does not accept deposits like a traditional bank?

Explanation

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