Edzy
Single Answer MCQ
Q-00002696

What is the role of credit in economic development?

1

Facilitates savings

2

Promotes investment

3

Reduces inflation

4

Increases unemployment

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

B. Promotes investment

Solution:

Credit plays a crucial role in economic development as it promotes investment by providing funds for businesses to grow and expand.

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

How does the production of cars by Ford Motors in India lead to interlinking of production?

Single Answer MCQ
View explanation
Q2

How would flexibility in labour laws benefit companies?

Single Answer MCQ
View explanation
Q3

Calculate the share of the three sectors in GDP for the years 2000 and 2013.

Single Answer MCQ
View explanation
Q4

Interpret the data on GDP by the primary, secondary, and tertiary sectors using a bar diagram.

Single Answer MCQ
View explanation