Question

Describe the importance of formal sources of credit in the economic development.​

Answer 1

Answer:

Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more. Answer: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more

Answer 2

Answer:

Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more. Answer: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more.