Which of the Following Concepts Refers to a Lack of Resources

question 12

Multiple Choice

Which of the following concepts refers to a lack of resources that is life threatening?

• A)absolute poverty
• B)temporary poverty
• C)relative poverty
• D)immediate poverty

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Definitions:

Guarantor

An individual or party that guarantees to pay back a loan or fulfill another obligation if the primary party fails to do so.

Liability

The state of being legally obligated and responsible for something, typically involving restitution for harm or damages caused.

Principal Obligation

The main debt or duty that a debtor is bound to fulfill under the terms of a contract.

Surety

A person or entity that takes responsibility for another's performance of an undertaking, for example, the payment of a debt.