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.
This suggests that human bonding and close relationships affects the mindset of people to a more positive outlook, decrease the risk for developing mental health issues, have a healthy lifestyle, and overall increase in the quality of life.
Answer:
For more convenient transportation
Answer:
Affect heuristic
Explanation:
Affect heuristic is the phenomenon in which people decide by applying short cuts. The decision of a person influenced by their current emotions. When a person affects emotionally and psychologically it affects their decision making.
Emotions affect all decide whether it small or big does not matter. At last, individuals know that when he should try for new things and decisions. The person can make a decision when the mood is happy. The heuristic is a psychologically, mentally shortcut to take the decision quickly. This is only the way when you feel that your decision is influenced by your emotions.
