James Finds It Difficult to Manage Credit but Wants the Convenience

question 63

Multiple Choice

James finds it difficult to manage credit but wants the convenience of using a credit card. He wants to get a card that will provide direct access to his checking account. James should get a:

• A) retail charge card.
• B) prepaid  card.
• C) student credit card.
• D) debit card.
• E) reward card.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a given market.

Maximum Price

A price ceiling set by the government or a regulatory body, above which a product or service cannot be sold in the market.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity.

Government

Government is the system or group of people governing an organized community, often a state.