Due to very high interest rate of informal credit resources, people have tried .......

Why are formal sources of credit preferred over informal sources? Choose the MOSTappropriate reason.1a. high interest rates for borrowingb. low cost of borrowingc. debt trapd. no organisation supervises the credit activities of lenders

Which of the following is not an informal source of credit?*1 point(a) Money-lender(b) Relatives and Friends(c) Commercial Banks(d) Traders

Customers with low credit scores who apply for credit are most likely to be rejected because:A.they are applying for credit for the first time and have no history of borrowing money.B.they refuse to pay application fees to demonstrate their high level of income.C.they have agreed that they will not file for bankruptcy if their debts are too high.D.they are considered unlikely to pay back borrowed money in a timely manner.

In which country is the Grameen Bank meeting the credit needs of over 6 million poor people?

What are some of the ways governments who have borrowed too much can resolve this problem?1 pointBorrow moreIncrease interest rates to make borrowing more difficultStimulate economic growth through productivity gains and key investmentsb) and c) onlya) and b) and c)