Economics · Financial Systems
Which among the following is characteristic of an informal financial system that can act as an advantage for certain specific borrowers?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Minimum default risk
- 2Lack of regulatory protection for lenders
- 3Higher rates of interest rates
- 4Flexibility in loan terms and wide range of credit access, despite varied interest rates✓
Correct answer
Flexibility in loan terms and wide range of credit access, despite varied interest rates
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