explain the positive and negative effects of credit with an example.
Class 10 economics
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Explanation:
In such a situation ,credit plays a positive role. In another situation for instance, a small farmer who has taken credit for cultivation might face a problem. As crop production involves high costs on inputs life HYV of seeds, fertilizers, pesticides etc. ... Here, credit has a negative impact
For example → a loan given to a fresh post-graduate for setting up a business might contribute to employment generation, infrastructure development in the near future
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