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
Question
Solution 1
To determine which of the options is not an informal source of credit, we can categorize each option based on their formal or informal status.
- Money-lender: Typically refers to individuals or entities that lend money based on informal agreements, often with higher interest rates. This is con Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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