Final answer:
Stores typically accept four major credit cards as payment: Visa, Mastercard, Discover Card, and American Express. Debit cards can also be used, directly withdrawing funds from the user's bank account, while credit cards offer a short-term loan. Smart cards hold preloaded funds for transactions, but none of these payment methods change the overall money supply in the economy.
Step-by-step explanation:
The four types of payment cards that are commonly accepted in stores include Visa, Mastercard, Discover Card, and American Express. These are typically seen as major credit cards. Although a debit card can also bear these logos, it functions differently by directly accessing the cardholder's bank account funds for transactions. When you use a debit card, the money is immediately transferred from your account to the seller. In contrast, a credit card represents a short-term loan from the credit card company to you, which you are obligated to repay when you receive your monthly statement. Smart cards, on the other hand, allow you to store and spend money that is preloaded onto the card. It's crucial to understand that while debit and credit cards facilitate transactions, they do not alter the amount of money in the economy, similar to how printing more checks doesn't increase the funds in your bank account.