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SS1: ECONOMICS - 3RD TERM

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  1. Mining | Week 1
    3 Topics
    |
    1 Quiz
  2. Financial Institution I | Week 2
    7 Topics
    |
    1 Quiz
  3. Financial Institutions II | Week 3
    5 Topics
    |
    1 Quiz
  4. Financial Institutions III | Week 4
    5 Topics
    |
    1 Quiz
  5. Business Organisation | Week 5
    3 Topics
  6. Money | Week 6
    5 Topics
    |
    1 Quiz
  7. Channels of Distribution I | Week 7
    5 Topics
    |
    1 Quiz
  8. Channels of Distribution II | Week 8
    6 Topics
    |
    1 Quiz
  9. Business Finance | Week 9
    7 Topics
    |
    1 Quiz



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building society loan

The building society provides a variety of functions including banking and lending.

Below are some of the functions of a building society:

1.  They grant loans to individuals and corporate bodies for building purposes. 

2. They encourage people to save so as to build their own houses. 

3. They play an advisory role to the government on housing matters. They accept deposits from members of the public for safe keeping thereby encouraging them to save for the future.

4. They encourage people to build their own houses by offering them long-term loans, especially those who have accounts with them.

5. They construct and provide houses and social amenities to the especially low-income group.

6. They help the low-income earners to acquire their own houses.

7. They accept deposits from customers through savings and loan schemes in order to encourage them to build their own houses. 

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