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Key Terms Instructions: Please Define the Following Key Terms

question 30

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
messianic age


Definitions:

Lending Standards

The set of criteria used by banks and financial institutions to determine the creditworthiness and eligibility of prospective borrowers.

Competitive Markets

Markets characterized by many buyers and sellers where no single participant can significantly influence the price of goods or services.

Externalities

Effects of a transaction or activity on third parties who are not directly involved, which can be either beneficial (positive externalities) or harmful (negative externalities).

Property Rights

Legal rights defining the ownership and use of resources including land, intellectual property, and personal assets.

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