This unit specifies the competencies required to apply economic skills. It involves; applying fundamental economic concepts, demand concept in market analysis, consumer behaviour theory, production theory, cost theory, differentiating market structures, determining national income, understanding money and banking, determining inflation and unemployment and understanding international trade.
The credit application process involves a borrower submitting financial information, followed by lender verification, risk assessment, and a final decision on approval or denial. Lenders evaluate credit history, income and debt ratios to determine terms and limits before issuing a formal agreement
