Question

cheap and affordable credit is crucial for the country's development analysed by giving example​

Answer 1

Answer:

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Answer 2

Explanation:

(i) Higher cost of borrowing means a larger part of the earnings of the borrowers is used to repay the loan. Hence, borrowers have less income left for themselves.

(ii) This would lead to higher incomes and many people could then borrow cheaply for a variety of needs.

Hope this will help you

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