Question

multiple choice question
what is consumer credit based on?
the banks lending habits
the willingness to pay
the willingness and desire to pay
the willingness and ability to pay
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Explanation:

Consumer credit is an arrangement where lenders extend credit to individuals for personal purchases. For this credit to be approved, lenders must assess both if the borrower wants to repay (willingness) and if they have the financial means to do so (ability). Desire alone does not equate to financial capacity, and bank habits are not the foundation of consumer credit itself.

Answer:

The willingness and ability to pay