Question

Which of the following, according to the author, has/have been responsible for the encouragement of culture of debt in the society lately? 1. The changing lifestyle which makes it impossible for a common man to sustain himself without debts and loans. 2. Breaking down of moral institutions which supported economic prudence. 3. Provision for easy availability of loans to every section of the society regardless of their ability to repay these.

• A. Only 1
• B. Only 2
• C. Only 3
• D. Both 1 & 2 together
• E. Both 1 & 3 together

Hint:

Look for multiple factors that together contribute to the culture of debt.

Answer 1

Answer: (E)