Question

Analyse the role of credit for development.
*IT IS A 3 MARKER
SO PLS GOVE IN 3 POINTS*​

Answer 1

Explanation:

• Credit plays a vital role in economic growth and development.
• Credit availability at cheaper rates of interest encourages the business or firms to borrow more.
• Borrowing more money will facilitate the growth of business or increase in production in the economy.
• So, credit supply is the key factor for economic development.