Which of this four-category in the economic sector is Banking included?
- Primary Sector
- Secondary Sector
- Tertiary Sector
- None of the above
Banking is involved in services. The third sector of the economy is the service sector. This sector provides services to the general population and businesses. Activities in this area include retail, wholesale, transportation, distribution, motion pictures, television, radio, music, theatre, and more.
The banking sector is an industry, a sector of the economy that is dedicated to keeping financial assets for others, investing those financial assets as a leverage to create more wealth.
The sector also includes the regulation of banking activities by government agencies, insurance, mortgage loans, investor services, and credit cards.
The banking industry is an economic sector that is at the forefront of the US economy.
Banks should keep only 10% of each deposit they make, and the rest of the money can be used for loans.
Banks must comply with special government regulations.
During the 2008 financial crisis, some large federal banks, such as Citigroup and Wells Fargo, were forced to pledge collateral.
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