In many societies, instead of borrowing money from a bank, which requires formal assurances of credit worthiness, people form revolving credit associations which are based on
A) the trust of the participants, who usually are from the same neighborhood and ethnic background.
B) the political prestige of the organizers.
C) government rules and regulations.
D) market supply and demand.
E) the household mode of production.
Question 2
Kemp found that, with the introduction of snowmobiles and high-powered rifles, the Baffin Island Eskimos now depend entirely on hunting for food.
Indicate whether the statement is true or false
Bank
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