PLEASE HELP
1.Create a diagram of the U.S banking system and the Federal Reserve System(FRS). Include special financial services of the banking system in your diagram. Be creative in this activity. Pretend you have been asked to teach the structure and interrelationships of the systems to someone else
2.List and define all terms contained in the diagram created
i don't know how to do this and i don't know what it's asking
I know what a diagram is, but i don't really know what it is asking.
No worries! I'm here to help you understand what is being asked and guide you through the process. Let's break it down step by step:
1. Creating a diagram of the U.S banking system and the Federal Reserve System:
- Start by understanding the U.S banking system and the Federal Reserve System (FRS). The U.S banking system includes commercial banks, community banks, credit unions, and other financial institutions that provide banking services to the public. The Federal Reserve System is the central banking system of the United States, responsible for regulating banks and controlling monetary policy.
- To create the diagram, you can use any medium you are comfortable with, such as drawing it on paper or using software like Microsoft PowerPoint or Google Slides. You can also consider using online diagramming tools like Lucidchart or Draw.io.
- Begin by drawing a central box for the Federal Reserve System and connecting it with arrows to the various components of the U.S banking system. These components could include commercial banks, community banks, credit unions, investment banks, and other financial institutions. Add additional boxes for each component and illustrate the relationships between them using arrows or lines.
2. Listing and defining the terms contained in the diagram:
- Now that you have created the diagram, you need to identify and define the terms used within it.
- Look at each component in your diagram and write down the terms associated with them. For example, commercial banks may include terms such as checking accounts, savings accounts, loans, mortgages, and so on.
- Use reliable sources like textbooks or reputable websites to define each term accurately. You can search for each term individually and write a concise definition beside it.
Remember, this activity is about conveying the structure and interrelationships of the U.S banking system and the Federal Reserve System to someone else. So, try to be clear and concise in your explanations and make the diagram visually appealing and easy to understand.
Let me know if you would like further assistance or clarification on any specific point!
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