Identity Theft

question 14

Multiple Choice

Identity theft:

• A) is a relatively new crime that was created through use of the Internet.
• B) affects about 8 million American victims each year.
• C) has slight impact on the victim since consumer law protects owners of credit cards and limits their loss to $50 if they promptly report the loss of their card.
• D) is now addressed by only state statutes.

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Definitions:

Supply and Demand

Economic principles that describe the relationship between the availability of a good and the desire for that good, affecting its price.

Component Firms

Companies that supply parts or services to other businesses in the production process.

End Customer

The final consumer of a product or service who does not intend to resell it; the ultimate user in the distribution chain.

Value

The importance, worth, or usefulness of something, perceived by individuals or markets, often influencing decisions and preferences.