Question

Write any two problems people face while taking credit from informal sources

Answer 1

Hey Friend___

Here is ur answer...

Two problems people face while taking credit from informal sources are:

✔ They have to pay more tax.

✔ They are dominated by the lender.

✔ Sometimes the poor people also has to work for the lenders.


Hope it helps u....☺☺☺☺

Answer 2

I) it doesn’t provide loans at fixed rates and terms.

II)cost of borrowing is extremely high, hence, doesn’t promote more borrowing.

III)there is too much exploitation