Question

plz answer these questions​

Answer 1

Answer:

1) it is the total amount of credit available to a business or a individual from a banking institution

Advantages

1) convineance

2) credit card rewards

3) paying for purchases over time

Disadvantages

1) high interest rates

2) frauds

3) confusing terms

2) The terms of credit comprises interest rate ,collataral and documentation requirements ,etc......

3) when consumers are confident that the economy is an upswing they often make a large purchasing decisions. consequently their credit needs increase which contribute to the increase in demand of credit loans