Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question
CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit1 Mark
Question
What is ‘credit’? What is ‘collateral’?
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Answer
Collateral’ is an asset that the borrower owns (such as land, building, vehicle, live stocks, deposits with banks) and uses this as a guarantee to a lender until the loan is repaid.
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