Question

What is debt trap class10 economic simplest definition..?

Answer 1

Answer:

A debt trap is a situation in which a borrower is led into a cycle of re-borrowing or rolling over their loan payment because he was unable to afford the payment on the principal of the loan.

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Answer 2

Answer:

Debt trap:- means where a person is fully and finally engaged with no money and he didn't pay the loan with the amount of interest taken from Money lenders or landlords or Banks. This situation is commonly called as Person is in "Dept Trap". Mark me as brainliest.