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Q.

Choose the given statement that is true/false.

Cheap and affordable credit should be available for everyone.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
Everyone should have access to cheap and affordable credit to engage in one type of economic activity and earn money for their survival and existence. When everyone in the country is involved in economic activity, they can all contribute to the Gross Domestic Product (GDP), which will lead to the country's economic development. The more developed the economy, the better goods and services will be produced, leading to a higher standard of living, better infrastructure, more literacy, and a high expectancy rate for the country. Thus, credit is an essential component of the economy.

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Choose the given statement that is true/false.Cheap and affordable credit should be available for everyone.