cherrymae2019gmaicom cherrymae2019gmaicom
  • 15-09-2021
  • Business
contestada

what is the importance of credit in the economy?

Respuesta :

MagdaRejouis980
MagdaRejouis980 MagdaRejouis980
  • 17-09-2021

Answer:

Credit leads to an increase in spending, thus increasing income levels in the economy. This, in turn, leads to higher GDP (gross domestic product) and thereby faster productivity growth. If credit is used to purchase productive resources, it helps in economic growth and adds to income

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