"A well-functioning (developed and efficient) financial system will efficiently allocate funds from suppliers of funds (surplus units) to users of funds (deficit units)". Would you agree with this statement? In your answer, make sure to

provide a brief definition of a financial system;

identify the key components of a financial system;

provide a definition of surplus and deficit units

; identify the key surplus and deficit units in the Australian financial system; and answer above statement by identifying the characteristics of a well-functioning, efficient and developed system.