3.6 - Terms of Credit
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Practice Questions
Test your understanding with targeted questions
What is credit?
💡 Hint: Think of it as borrowing.
Name one formal source of credit.
💡 Hint: Think about where you can save money.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the main characteristic of informal credit?
💡 Hint: Think about who lends money without monitoring.
Is collateral always required in formal credit?
💡 Hint: Consider the flexibility of lending terms.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Evaluate how high-interest informal loans impact overall rural economics.
💡 Hint: Consider the cyclical nature of debt.
Propose a strategy for improving access to formal credit for small farmers.
💡 Hint: Think about community involvement and bank partnerships.
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