Why is credit a crucial element in the economic development?

1.	Why is credit a crucial element in the economic development?
Answer» Credit is a crucial element in economic development of a country because: i. It helps to meet the ongoing expenses of production ii. It helps in increasing earnings iii. It helps in completing production in time. iv. Any other relevant point.

Answer»

Credit is a crucial element in economic development of a country because:

i. It helps to meet the ongoing expenses of production

ii. It helps in increasing earnings

iii. It helps in completing production in time.

iv. Any other relevant point.

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Why is credit a crucial element in the economic development?

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