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WAEC Agricultural Science 2001 Question 58

Question 58

Agricultural Finance

Rural farmers mostly obtain loans from

  1. A.Government
  2. B.International Monetary Fund
  3. C.Merchant banks
  4. D.Money lenders
Show the answer and explanation

Answer: D (Money lenders)

Explanation

Money lenders are close by and ask for no collateral, though they charge high interest.