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.
South Africa's economy was traditionally rooted in the primary sectors – the result of a wealth of mineral resources and favourable agricultural conditions. ... Since the early 1990s, economic growth has been driven mainly by the tertiary sector – which includes wholesale and retail trade, tourism and communications.
Answer: true
Explanation:The Boston Tea Party was an act of rebellion from which the strained relationship between Britain and the colonies would never recover. The captains of the three ships were summoned to the privy council, but were unable to identify any of the people involved with the Boston Tea Party.
True because then no evolution would happen. there would need to be a drastic change in the environment.
