Economy, asked by Zasss3389, 11 months ago

Why is credit crucial element in the economic development?

Answers

Answered by Anonymous
7

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

Answered by MrZeref
1

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.

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