Vocabulary (Matching)Questions
the Following Is a List of Terms from the Chapter

question 21

Short Answer

Vocabulary (Matching)Questions
The following is a list of terms from the chapter along with descriptive phrases that can be used to produce questions (depending on the topics covered in your course)in which the students are ask to match phrases and terms.An example would be a question of the form,"In the blank next to each phrase,write the term from the following list that is best described by the phrase."


$\begin{array}{ll}\text { Term } & \text { Descriptive Phrase } \\ \text { algorithm } & \text { The fundamental concept in computer science } \\ \text { pseudocode } & \text { An informal notation for representing algorithms } \\ \text { assignment statement } & \text { A means of saving the result of a computation for future use } \\ \text { if-else statement } & \text { A means of producing different actions depending on a condition } \\ \text { stepwise refinement } & \text { A divide and conquer approach to problem solving } \\ \text { loop invariant } & \text { A statement that is true each time a specific point in a repetitive } \\ & \text { process is reached } \\ \text { function } & \text { A program segment isolated as a unit } \\ \text { recursion } & \text { The technique of applying a program segment within itself } \\ \text { pretest loop } & \text { Looks before it leaps } \\ \text { proof of correctness } & \text { A formal means of verifying software } \\ \text { sequential search } & \text { Less efficient than the binary method } \\ \text { primitive } & \text { A basic building block }\end{array}$

Recognize the conditions under which a party can become a holder in due course.

Understand the legal defenses against claims made by holders in due course.

Recognize how alterations and errors on negotiable instruments affect their validity and negotiation.

Know who can endorse instruments made payable to entities and the effect of such endorsements.

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Definitions:

Goods And Services

The outputs offered by businesses and the economy to satisfy individual or collective needs or wants.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Physical Capital

The stock of tangible, non-financial assets that are used in the production of goods and services, such as machinery and buildings.

Opportunity Costs

The cost of an alternative that must be forgone in order to pursue a certain action, essentially what is sacrificed to choose one option over another.