The majority of the people in the developing world lives under an absolute poverty level. These credit card may be used for the informal groups.
Informal Group in organization
what are the disadvantages of informal group
An informal group is a group that has no written rules controlling the behavior of their members.
an informal group is a group which does not exist long and a group that does not have much rules it is also a group where people chose leaders on the spot
it is an informal group
An informal group typically refers to an informal work group. Informal work groups are typically created within companies so that workers have a common ground with employers, and can feel comfortable bringing up issues.
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Formal source is a Bank loan, Credit Cards. Informal Source - Cash money lent out by Gangsters .
An example of a informail group is a gang.
A formal group is a group that has organization, structure, officers, and regular meetings. An informal group is more relaxed and more of a social gathering.
most loans are taken by poor households in the urban areas are form informal sources ,whereas only one-tenth of the rich take their loans from informal sources.a similar pattern is also found in rural areas
they do not have leaders