Edzy
Single Answer MCQ
Q-00015886

Which aspect of credit is most likely to vary by lender?

1

Borrower's income

2

Loan usage

3

Terms of credit

4

Repayment duration

Reviewed & Verified by Edzy Expert

Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

C. Terms of credit

Solution:

Terms of credit are likely to vary depending on both the lender's policies and the relationship with the borrower.

Watch Video Solution

Keep Practising

Students who asked this also explored

Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1

What is typically included in the terms of credit for a loan?

Single Answer MCQ
View explanation
Q2

Why do lenders require collateral from borrowers?

Single Answer MCQ
View explanation
Q3

What is considered a common risk for farmers taking loans for crop production?

Single Answer MCQ
View explanation
Q4

Which of the following is NOT a characteristic of informal credit sources?

Single Answer MCQ
View explanation