The Traditional View of Credit Was Grounded in

question 1

Multiple Choice

The traditional view of credit was grounded in

• A) the Protestant work ethic that often regarded debt as sinful.
• B) principles of Democracy that emphasize equal opportunity for all consumers, and saw debt as a way to level the playing field of consumption.
• C) Islamic law which prohibits credit, even at low rates of interest, because it is usurious.
• D) capitalism, which views debt as a legitimate means to create wealth (for the lender).
• E) Buddhism, which encourages people to minimize their wants in order to free themselves from the need to use credit.

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Definitions:

Right Of Way

A type of easement that allows the crossing of another’s land.

Prescription

An authorized written instruction from a medical practitioner for the preparation and administration of a medicine or medical device.

Habitual Use

Frequent and regular use of something, often implying dependence or a pattern that is hard to break.

Residential Tenancies

Legal arrangements and protections concerning the leasing of residential properties between landlords and tenants.