Which Act Is Considered to Be Financial Abuse of an Elder

question 127

Multiple Choice

Which act is considered to be financial abuse of an elder?

• A) failing to purchase needed medication
• B) selling the person's jewelry or other possessions
• C) inflicting harm if the person refuses to give up money
• D) withholding food unless payment is made

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Definitions:

Independently Acting Buyers

are consumers who make purchasing decisions based on their own preferences and circumstances, without coordinating with others.

Freedom to Enter

The condition in a market where new firms can enter the industry without facing prohibitive barriers or regulations.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing between options.

Diminishing Marginal Utility

The principle that as a consumer consumes more of a good or service, the additional satisfaction gained from each additional unit decreases.