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Question 3 (60 marks in total) (a) Critically discuss the issues that may appear in the financial system if financial intermediaries did not exist and

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Question 3 (60 marks in total) (a) Critically discuss the issues that may appear in the financial system if financial intermediaries did not exist and how these issues could be resolved. [30 marks] (b) Carefully discuss the mechanism of a financial system and functions of financial intermediaries in the financial system. [30 marks] Question 3 (60 marks in total) (a) Critically discuss the issues that may appear in the financial system if financial intermediaries did not exist and how these issues could be resolved. [30 marks] (b) Carefully discuss the mechanism of a financial system and functions of financial intermediaries in the financial system. [30 marks]

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