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Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit3 Marks
Question
‘Credit has its own unique role for development’. Justify the statement with arguments.
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Answer

“Credit has its own unique role for development”:
  1. Credit helps to increase earning and therefore the person is better off than before. For eg: as in (Salim’s case)
  2. Credit helps to earn money as well as capital for the future.
  3. Credit helps in the development of infrastructure of the society that leads to the overall development.

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