define economic debt
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debt. an amount of money owed by a person, firm or government (the borrower) to a lender. Debts arise when individuals, etc., spend more than their current income or when they deliberately plan to borrow money to purchase specific goods, services or ASSETS (houses, financial securities, etc.).
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Hey buddy!!
Here is your answer!!!
⚫️Economic debt is an amount of money owed by a person, firm or government to a lender. Debts arise when individuals spend more than their current income or when they plan to borrow money to buy things of value such as houses and financial securities etc.
Hope it helps u!!
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Here is your answer!!!
⚫️Economic debt is an amount of money owed by a person, firm or government to a lender. Debts arise when individuals spend more than their current income or when they plan to borrow money to buy things of value such as houses and financial securities etc.
Hope it helps u!!
┬─┬ノ( º _ ºノ)
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