Question

In relation to consumer credit which of the following statements are correct?

Select one:

a. None of the options.

b. Consumer credit expands future consumption.

c. Consumer credit allows for an increase in future purchasing power.

d. Consumer credit specifically relates to the use of credit by individuals and family units for personal needs.

Answer 1

Question

In relation to consumer credit which of the following statements are correct?

Consumer credit specifically relates to the use of credit by individuals and family units for personal needs.

Consumer credit availed to consumer for purchase of the goods and service and it will enhance the credit facility for meeting personal needs. These are actually considered as the unsecured debt. Personal loans and credit cards are considerd as consumer credit.

ThankYou........