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3 cards from this section. Quick, good the night before a test.
What is credit?
Think of it as borrowing.
Name one formal source of credit.
Think about where you can save money.
What is the main characteristic of informal credit?
Think about who lends money without monitoring.
Is collateral always required in formal credit?
Consider the flexibility of lending terms.
Evaluate how high-interest informal loans impact overall rural economics.
Consider the cyclical nature of debt.
Propose a strategy for improving access to formal credit for small farmers.
Think about community involvement and bank partnerships.
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