JAMB - Commerce (2021 - No. 29)

Hire purchase is advantageous to the seller in that 
it elevates his living standard
people pay on installment
his turnover will increase
it enhances high level of patronage

Explanation

To the seller, a hire purchase would mean more people who are unable to pay for a product in full being able to get access to the product while paying on installment. A hire purchase benefits the seller in the sense that the level of patronage increases as more people will be willing to buy and pay in bits for a specified period of time.

Comments (0)

Advertisement