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Home / Doubts and Solutions/ICSE/Class 10/Economics

What are the similarities between private debts and public debts?

Asked by Topperlearning User 24th April 2015, 7:39 AM
Answered by Expert
Answer:

Similarities between public and private debts are:

  1. Both the government and individuals take loans to bridge the gap between income and expenditure for their day-to-day activities.
  2. They take loans for specific periods at a fixed rate of interest.
Answered by Expert 24th April 2015, 9:39 AM
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