Match the Term with Its Definition

question 41

Multiple Choice

Match the term with its definition.
-Obtaining cash from a lender who, for a fee, advances the amount of the borrower's cost of goods sold for a specific customer order

• A)asset-based loan
• B)basis point
• C)equipment loan
• D)LIBOR (London InterBank Offered Rate)
• E)line of credit
• F)prime rate (base rate)
• G)purchase-order financing
• H)term loan

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Definitions:

Common Resource

A natural or man-made resource that is non-excludable and rivalrous, such as fish in the ocean or a public park, which can lead to overuse and depletion.

Fishing in the Ocean

The activity of catching fish in the ocean for commercial, recreational, or subsistence purposes.

Property Rights

Legal rights to own, use, and dispose of assets, which can include intellectual property, land, or personal property.

Common Resources

Resources that are available to all but are susceptible to overuse because of their non-excludable and rivalrous nature, leading to potential depletion or degradation.