In Western countries people have been using the installment(分期付款) since the first half of the twentieth century.(1)indicate that more than 60 percent of the yearly retail sales(零售) in the U.S. are credit transaction. About three fourths of the credit sales are made on the installment plan. More than half of the automobiles,(2), and house-hold appliances are purchased on the installment plan.
Many families can save enough to make major purchases;(3), they are able to purchases without cash on the installment plan. The price of goods bought in this way is always(4)than the price that would be paid(5)cash. There is a charge for interest. The buyer will have to pay a proportion(6), perhaps one-quarter or one-third, of the price as a down payment when the goods are delivered to him. He then makes(7)payments, weekly or monthly, until the(8)price is paid up. The legal ownership of the goods remains with the(9)until the final payment has been made.
Some economists believe that selling goods to consumers on an installment plan is one of the major factors in(10)the high standard of living possible. They(11)that installment selling increases the consumption of goods, which in(12)increase production and thus tends to lower costs.
However, government officials, and businessmen express(13)about excessive purchasing on the installment plan. If many people on the installment plan(14)their jobs, they would probably not be able to make their payments. There is possibility(15)businessmen cannot collect their debts and will therefore lose money. If businessmen lose money or fail to make a(16)profit, the possibilities of having a(17)are increased. This is(18), in some countries, the government controls the installment plan by(19)the proportion of the down payment and the succeeding installment to discourage people(20)buying more than they can pay for on the installment plan.