What Is Microcredit? If Microcredit Programs Are Such Successes, Why

question 53

Short Answer

What is microcredit? If microcredit programs are such successes, why aren't they more widespread?

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Definitions:

Shortage

A condition where the quantity demanded of a good exceeds the quantity supplied at the market price.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in the market.

Equilibrium Quantity

The amount of products or services that are provided and requested at the balance price.

Flooding

The overflowing of water beyond its normal confines, typically over what is normally dry land.