Which of the Following Statements Is NOT Correct? Credit Unions

question 31

Multiple Choice

Which of the following statements is NOT correct? Credit unions

• A)are co-operatives,which are owned and operated by their members.
• B)are authorised deposit-taking institutions (ADIs).
• C)are organised as clubs whose members pool their savings and loan them to one another.
• D)mainly invest in long-term residential loans.

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Definitions:

Perfectly Competitive

A market structure where many firms sell identical products, entry and exit are easy, and no single buyer or seller can influence the market price.

Equilibrium Value

The stable value at which supply equals demand for a particular good, service, or financial instrument, leading to a balanced market condition.

Marginal Product

The additional output that results from using one more unit of a particular input, while holding other inputs constant.

Average Product

The output produced per unit of input, calculated by dividing total output by the number of units of a specific input.