Question

Analyse the role of credit for development.​

Answer 1

Answer:

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Explanation:

Answer 2

Answer:

Credit plays a crucial role in a country's development. By sanctioning loans to developing industries and trade, banks provide them with the necessary aid for improvement. This leads to increased production, employment and profits.

Credit allows individuals and organizations to purchase items without having to make an immediate payment in cash. Banks use this system of credit to make loans. The more cash the bank has on hand or in reserve, the more money it can loan to borrowers.