Answered

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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


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