Manav needs a loan to set up a small business. On what basis will Manav decide whether to borrow from the bank or the moneylender? Discuss.
Manav will decide whether to borrow from the bank or the money lender on the basis of the following things:
- Comparison between the rate of interest charged by the two sources.
- Availability of the eligible documents required by the bank to approve his loan.
- Mode of repayment of the loan.
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Welcome to the NCERT Solutions for Class 10 Social Science - Understanding Economic Development - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 10: Manav needs a loan to set up a small business. On what basis will Manav decide whether to borrow fro....
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