Consumer credit dates back to colonial times when farmers used credit to buy seeds and supplies for their farms. It has since become a major component of our economy, allowing individuals to make purchases and investments that they would not be able to afford with cash on hand. Option A, C, D, and E are all incorrect.

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Consumer Credit

Question 75

Multiple Choice

Consumer credit

A) Is only a privilege of the affluent.
B) Dates back to colonial times.
C) Has been declining since the 1900s.
D) Is not a major force in our economy.
E) Is currently only used by farmers

Correct Answer: