Final answer:
The subject of this question is Business and it is about creditworthiness and equal access to credit. Factors such as income, expenses, debt, and credit history are taken into consideration to determine creditworthiness, and the Equal Credit Opportunity Act ensures that no discrimination based on race, gender, or religion takes place in the credit evaluation process.
Step-by-step explanation:
The subject of this question is Business and it is at the High School level.
The concept being discussed is creditworthiness, which is the measure of a person's ability to repay a loan. In order to ensure that all consumers are given an equal chance to obtain credit, factors such as income, expenses, debt, and credit history are taken into consideration. This means that not all consumers who apply for credit will necessarily get it, as their creditworthiness will determine whether they qualify for a loan.
Various methods are used to assess creditworthiness, including filling out forms regarding income sources, conducting credit checks on past borrowing, requiring a cosigner on a loan, and asking for collateral. It is important to note that factors such as race, gender, and religion are not considered in the credit evaluation process, as the Equal Credit Opportunity Act prohibits discrimination based on these factors.