Economists Use the Term Utility to Mean Usefulness

question 177

True/False

Economists use the term utility to mean usefulness.

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Definitions:

Trade Credit

A business arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Intermediate-Term Credit

Intermediate-term credit involves loans or financial credit with a repayment period typically ranging from one to five years.

SBA Express Program

A relatively new loan program available through the SBA that simplifies the paperwork that has historically been required.

Conventional Loans

A mortgage loan that is not insured or guaranteed by the federal government, typically requiring a higher credit score and a minimum down payment.