credit played a positive role in salim's life. on similar lines, find out how credit has played a constructive role in the lives of people around you-your family, relatives, etc.
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Explanation:hello mate
- There are two positive and negatives role of credit. credit helps to meet the Working capital needs of production. ... in the case of high risk , credit pushes the borrower into a debt - trap . that is credit in this case pushes the borrower into a situation from which recovery is very painful.
- 'Credit' refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. Credit plays a vital and positive role as : (i) Credit helps people from all walks of life in setting up their business, increase their income and support their families.
- hope it helps you
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Role of credit in our life:
- Credit is now an important part of our financial power. It helps us to get the things we need now, like a loan for a house or a credit card, built on our promise to pay later.
- Working to expand our credit helps ensure we’ll qualify for loans when we need them.
- Credit lets individuals and organizations buy items without having to make an instant payment in cash
Hope it helped...
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