Why is credit crucial element in the economic development?
Answers
Answer:
Explanation:
➡️Cheap and affordable credit plays a crucial role for the country’s development.✔️
➡️There is a huge demand for loans for various economic activities.✔️
➡️The credit helps people to meet the ongoing expenses of production, complete production on time, and thereby increase their earnings.✔️
➡️The main benefits from derived credit for developmental activities are :✔️
➡️1. Credit plays a major role in the development of a country of creating better facilities for agricultural and industrial activities.✔️
➡️2. Credit helps people from all walks o
Answer:
Credit is a crucial element in the economic development. ... Credit plays a major role in the development of a country of creating better facilities for agricultural and industrial activities. Credit helps people from all walks of life in setting up their business and increase their earnings.