Final answer:
Credit and layaway plans allow acquiring goods without full payment upfront, differing in terms of immediate ownership and potential debt implications.
Explanation:
Credit and layaway plans both involve obtaining goods or services before making full payment. In credit transactions, money is borrowed to make a purchase with the promise of repayment later, while in a layaway plan, the item is set aside and paid for gradually until fully owned.
With both methods, customers can acquire items without immediate full payment, allowing for flexibility in managing purchases. However, credit typically involves interest charges and potentially going into debt, while layaway plans often do not incur interest but may involve holding fees or restrictions.
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