Question

geometry (egg) das... 1762 £2000 ← planter earns - £2500 ← planter spends -£500 ← planter’s debt the planter earns £2000. he spends £2500 on goods. he buys some of the goods on credit. so, at the end of the year he owes the merchant house £500. 1763 -£500 ← planter’s debt from last year £3000 ← planter earns - £2500 ← planter spends -£0 ← planter’s debt the planter begins the year owing £500. he then earns £3000. he uses £500 to repay what he owes and then spends £2500 on goods. so, at the end of the year he owes the merchant house £0. match each year with its description. the planter earns more than he spends and repays what he owes. the planter spends more than he earns and buys goods on credit. 1762 1763

Explanation:

In 1762, the planter earns £2000 and spends £2500, going into debt, which means he spends more than he earns and buys on credit. In 1763, he starts with a £500 debt, earns £3000, repays the debt and then spends £2500, so he earns more than he spends and repays his debt.

Answer:

1762: The planter spends more than he earns and buys goods on credit.
1763: The planter earns more than he spends and repays what he owes.