Given that a large number of people in our country are poor, does it in any way affect their capacity to borrow?

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Chapter 3 NCERT Class 10 Economics SOLUTIONS

4. Given that a large number of people in our country are poor, does it in any way affect their capacity to borrow?

Question:

Given that a large number of people in our country are poor, does it in any way affect their capacity to borrow?

Answer:

A large population of our country is poor. This definitely affects their credit taking ability as collateral has to be given in the form of a guarantee to get the loan. Poor people lack these assets which affects their ability to take loans.

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(All Q's of this Chapter solved)

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