Use the Following to Answer Questions

question 111

Multiple Choice

Use the following to answer questions :
-(Table: Production Possibilities) Look at the table Production Possibilities. The opportunity cost of 1 computer for _____ is _____.

• A)the United States; 2
• B)Colombia; 0.5
• C)the United States; 0.5
• D)Colombia; 1

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Definitions:

Risks

The possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility.

Duties of Insurer

The responsibilities an insurance company is bound to fulfill, including issuing policies, collecting premiums, and paying out claims.

Auto Loan

Financing specifically designed to allow individuals to purchase vehicles by borrowing money which is then paid back over time.

Loan Broker

An intermediary who assesses a borrower's needs and matches them with potential lenders, facilitating the process of obtaining a loan.