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WAEC Agricultural Science 1988 Question 57

Question 57

Agricultural Finance

Which of the following is not a source of farm credit?

  1. A.Cooperative societies
  2. B.Government agencies
  3. C.Commercial banks
  4. D.Agricultural banks
  5. E.Mortgage banks.
Show the answer and explanation

Answer: E (Mortgage banks.)

Explanation

Mortgage banks lend mainly for housing, not farming.