‘Credit has its own unique role for development’

cbse
economics
money-and-credit
cbse-class-10
cbse-class-10-social

#1

‘Credit has its own unique role for development’. Justify the statement with arguments.

Answer:
“Credit has its own unique role for development”

  • Credit helps to increase earning and therefore the person is better off than before. For example, as in (Salim’s case)
  • Credit helps to earn money as well as capital for the future.
  • Credit helps in the development of infrastructure of the society that leads to the overall development.