What is a financial system?, Trade barrier, Labor union, Tax policy, Funds network, What is direct finance?, No intermediary, Government spending, Bank lending only, Cash withdrawal, What is indirect finance?, Stock ownership, Price setting, Through intermediaries, Direct borrowing, What is a financial intermediary?, Prints currency, Channels funds, Sets wages, Collects taxes, What is a financial market?, Goods exported, Budgets approved, Loans forgiven, Assets traded, Who is a lender-saver?, Borrows funds, Trades labor, Supplies funds, Sets interest, Who is a borrower-spender?, Provides funds, Obtains funds, Issues taxes, Holds deposits, What does a commercial bank do?, Deposits and loans, Builds houses, Mints coins, Sells insurance, What is an equity security?, Tax receipt, Company ownership, Borrowing obligation, Cash payment, What is liquidity?, Price decline, Market closure, High debt level, Easy cash conversion
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