alleryWhich is a formal source of credit?
AContractors
BCustodians
CCooperatives
DCorporations
Answer & Solution
Correct answer: C. Cooperatives
1. Banks are the other formal source named.
2. Moneylenders and traders are informal.
3. Cooperatives are formal.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
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