Match the Term with Its Definition

question 63

Multiple Choice

Match the term with its definition.
-Financing granted by retailers to individuals who purchase for personal or family use

• A)consumer credit
• B)credit
• C)credit bureaus
• D)credit card
• E)installment account
• F)open charge account
• G)revolving charge account
• H)trade credit
• I)trade-credit agencies
• J)value

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Definitions:

Uncertainty

The lack of certainty or predictability about the outcome of an event, often requiring risk management strategies.

Competitive Strategy

A planned method of positioning a company in the market and gaining an edge over competitors, often by analyzing strengths, weaknesses, opportunities, and threats.

Customer Needs

The desires or requirements of buyers that drive their purchase decisions, including product features, price, quality, and convenience.

Inventory

The stock of any item or resource used in an organization, including raw materials, components, and finished products.