Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Why is credit a helpful tool for businesses and consumers?

A. It prevents banks from charging them interest on loans.
B. It keeps their money safe and easily accessible in a bank.
C. It allows them to borrow money that can be paid back later.
D. It rewards them for saving a large percentage of their earnings.

Sagot :

GinnyAnswer

Final answer:

Credit enables borrowing for purchases and investments, promotes economic growth, and enhances financial stability.


Explanation:

Credit is a helpful tool for businesses and consumers because it allows them to borrow money that can be paid back later. This enables individuals and companies to make purchases or investments without needing to have the full amount available immediately, promoting economic activity and growth.

Through credit, banks can lend money to those who can utilize it efficiently in production, leading to the more effective use of capital and helping to stimulate the economy. Additionally, credit fosters financial stability by providing access to funds in times of need or for future planning.


Learn more about Benefits of Credit for Businesses and Consumers here:

https://brainly.com/question/31652593


We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.