Which Three of the Following Are Advantages of Hire Purchase

question 1

Multiple Choice

Which three of the following are advantages of hire purchase?

• A) It is easy and quick to arrange.
• B) It offers fixed- rate finance.
• C) Only the lender qualifies for tax relief.
• D) It involves a small initial outlay.

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Definitions:

Absolute Income Gap

The absolute income gap measures the difference in income levels between individuals, households, or groups, without considering relative changes over time or comparisons.

Capital Flight

The sudden and large-scale withdrawal of capital or assets from a country due to economic or political instability.

"Brain Drain"

The emigration of highly trained or qualified people from a particular country.

Aggregate Demand

A schedule or curve that shows the total quantity of goods and services that would be demanded (purchased) at various price levels.