| f) Consumer credit
Consumer credit refers to the credit facility available to the
consumers desirous of purchasing durable comforts and
luxuries. It is made available by the sellers, either directly or
indirect у through banks and other financial institutions.
Hire purchase, installment purchase, direct bank loans etc
are the ways by which credit is made available to the
consumers.
Consumer credit influences consumer behaviour. If more
consumer credit is available on liberal terms, expenditure on
comforts and luxuries increases, as it induces consumers to
purchase these goods, and raise their living standard.
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