The Debt Trap
Trending Questions
Q.
A Debt Trap Means
Inability to repay the credit amount
Ability to pay the credit amount
Overspending till no money is left
None of these
Q. What do you mean by 'collateral'?
- It is a liability that the borrower bears while taking loan
- An asset that a borrower owns and the lender uses it as a guarantee until the loan is re-paid
- It is a document used in the process of taking credit
- It is an asset
Q. An asset owned by borrowers and pledged as a guarantee to obtain loan is known as _____ .
- collateral
- document
- rate of interest
- term of credit
Q.
A 'debt trap' means:
ability to pay credit amount
inability to repay credit amount
overspending till no money is left
none of these