Question

When is it advisable to use credit during poor economic times? When is this not a good practice?

(A) Advisable: When needing immediate funds for essential expenses. Not Advisable: When facing uncertain financial prospects.
(B) Advisable: To invest in high-risk opportunities. Not Advisable: When savings are available.
(C) Advisable: To maintain a high credit score. Not Advisable: When the interest rates are low.
(D) Advisable: To purchase luxury items. Not Advisable: To cover emergency medical expenses.

Answer 1

It is advisable to use credit during poor economic times for essential expenses, such as emergency medical expenses. However, it is not a good practice to use credit for luxury items or when facing uncertain financial prospects.

Step-by-step explanation:

When it is advisable to use credit during poor economic times: It is advisable to use credit when needing immediate funds for essential expenses, such as emergency medical expenses. This can help cover necessary costs when facing financial difficulties.

When it is not a good practice to use credit during poor economic times: It is not advisable to use credit when facing uncertain financial prospects or to purchase luxury items.