Question

what is the role of credit​

Answer 1

Answer:

Credit allows individuals and organizations to purchase items without having to make an immediate payment in cash. Banks use this system of credit to make loans. The more cash the bank has on hand or in reserve, the more money it can loan to borrowers.

Answer 2

Answer:

Credit leads to an increase in spending, thus increasing income levels in the economy. This, in turn, leads to higher GDP (gross domestic product) and thereby faster productivity growth. If credit is used to purchase productive resources, it helps in economic growth and adds to income

Explanation:

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