Question

luxury goods are sold by the retailers to the consumers under

Answer 1

Luxury goods are sold by the retailers to the consumers under hire purchase.

Explanation:

• Hire purchase system is becoming populat among people.
• In hire purchase system, the payments are made through installments.
• In this syste, and initial payment is to be paid by the buyer and then the rest amount is paid along with interest to the vendor in the form of installments.
• The ownership of the good is transferred after last installment.  
• In case of defaults, the seller can claim the possession.