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Q.

Everyone should have access to credit at an :

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a

Affordable cost

b

Expensive

c

Both 1 and 2

d

None of these

answer is A.

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Detailed Solution

Everyone should have access to credit at an affordable cost since accessible credit is essential for the prosperity of the Nation. People are enticed to take out loans to satisfy various requirements through cheap credit. They might raise crops, run enterprises, establish small industries, start a dairy, etc. Therefore, accessible credit promotes growth in demand, as well as in output and employment. The country's GDP and living standards will rise due to increased production and jobs, propelling rapid development.

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