A Vague Definition Is One That

question 105

Multiple Choice

A vague definition is one that:

• A)doesn't give any precise criterion for membership in the concept
• B)provides a precise criterion for membership in the concept
• C)contains too much information to be useful
• D)everyone can understand easily
• E)only experts can understand easily

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Definitions:

Assets

Resources owned or controlled by a person or entity that are expected to produce value or economic benefit in the future.

Balance Of Payments

A statement that summarizes a country’s transactions with the rest of the world, including trade, financial transfers, and investments.

Negative Balance

A situation in financial accounts where the amount spent exceeds the amount available or deposited.

Euro

The common currency in most of Western Europe.