Answer:
The two categories of sources of credit are formal and informal sources.
Explanation:
The formal source of credit as the name implies is an official means of obtaining loans. Its features include,
1. It is administered by corporate institutions like banks and other lending bodies.
2. It is regulated by a body in the relevant country.
3. There are recognized and standard interest rates that must be paid by the borrower.
4. It is guided by laws which both parties are expected to keep.
The Informal sources of credit are unofficial means of borrowing funds There features include,
1. They can be obtained from friends, relatives, and acquaintances.
2. There are no standard interest rates as these are determined by the lenders.
3. There are no official bodies to regulate the lending process.
4. They are mostly used by poor businessmen and women who need small loans.
Answer:
The War Department was the United Kingdom government department responsible for the supply of equipment to the armed forces of the United Kingdom and the pursuance of military activity.
Dull: bland, boring
Brilliant: amazing, revolutionary
Doleful: sad, depressed
Vivid: clear, precise
Rule of force-No rules and people simply take what they want
First come-first served-When shoppers arrive when the store opens so they can buy all the goods on a sale at low prices
Gov't rules-the gov't decides who receives what and when
Markets- compete for more customer and higher profit,workers to compete for better jobs and larger incomes.
Answer:
This difference in ability involving the loss of speed but gain of caution best illustrates Baltes' principle that development is <u>Multidirectional</u>
Explanation:
According to the approach of development of the life cycle of Paul Baltes, development is a process in which everyone creates their ability to adapt to different life situations, in each period they will be affected by what happened before and what is to come. In addition, each one has its own characteristics and unique values. Multidirectional development is concerned to development that happens in more than one direction. Each person has a different life to that of the others according to the decisions that he makes or the circumstances. As people win in one area, they may lose in another at the same time. People seek to maximize profits and minimize losses by learning to manage or compensate for them.
