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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 Credit1 Mark
Question
What do you mean by the term ‘collateral’?
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Answer

It is an asset that the borrower owns and uses this guarantee to a lender until the loan is repaid.

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