A Disadvantage of Using a Credit Card Is That

question 21

Multiple Choice

A disadvantage of using a credit card is that:

• A)it is riskier than carrying cash because losing the card can cause the credit card issuer to file a case against the cardholder.
• B)it makes it difficult for the credit card users to track their expenditures.
• C)it makes it hard for some people to maintain financial discipline.
• D)many retailers do not offer warranty for products purchased with credit cards.

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Definitions:

Milgram's Experiment

An ethical experiment conducted by psychologist Stanley Milgram, which measured the willingness of participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.

Bureaucracies

Organized administrative systems in which tasks and responsibilities are divided among various offices and departments, characterized by hierarchical structure, fixed rules, and a focus on procedural efficiency.

Symbolic Interaction Theory

is a sociological perspective that focuses on how individuals use symbols and their meanings to create and maintain social reality through their interactions.

Primary Groups

Small social groups whose members share close, personal, enduring relationships, such as families and close friends.