passwella.
Menu

WAEC Economics 2007 Question 28

Question 28

Financial Institutions

Long-term loans can be secured from

  1. A.commercial banks
  2. B.discount houses
  3. C.development banks
  4. D.acceptance houses.
Show the answer and explanation

Answer: C (development banks)

Explanation

Development banks give long-term loans for agriculture and industry; commercial banks mostly lend short term.