Question

Name an institution in which someone can deposit surplus money?

Answer 1

Answer:

Financial institutions

Answer 2

Answer:

A Financial institution is an 'institution' in which 'someone can deposit surplus money'.  

Explanation:

The 'financial system' is composed of financial markets and financial institutions. Net lenders can lend their funds directly to net borrowers in financial markets. An example is a market for corporate bonds.  

Financial institutions are firms which provide 'financial services' to net borrowers and net lenders.  

The 'most important' financial institutions are financial intermediaries, various institutions such as banks, credit unions, loan associations, and savings.