0 votes
612 views
in Home Science Form 3 by
Explain the three ways of buying goods on credit.

1 Answer

0 votes
by
  1. Hire purchase/ installment credit - a form of installment credit whereby goods are obtained by paying a certain percentage in form of deposit. The balance is paid later through equal installments spread over a period of time.
  2. Non installment credit - this is where one obtains goods and services for a period of time and then pays up when bills arrive
  3. Use of credit cards - this is where a consumer uses a card to buy goods and services. The payment is paid from the consumer's bank account.

Related questions

Welcome to EasyElimu Questions and Answers, where you can ask questions and receive answers from other members of the community.

6.4k questions

9.6k answers

6 comments

590 users

...