Economics · Rural Credit and Debt Trap
When a farmer borrows from a private moneylender at high interest rates, he often finds it difficult to repay, forcing him into a continuous cycle of borrowing. This situation is best described as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Capital appreciation
- 2Credit expansion
- 3Fiscal deficit
- 4Debt trap✓
Correct answer
Debt trap
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