Getting a Credit Card While a College Student Is an Excellent

question 33

Multiple Choice

Getting a credit card while a college student is an excellent idea because

• A)it helps you learn about credit.
• B)you can shop online and make reservations.
• C)it works well for emergencies.
• D)when used correctly it allows you to build up a solid credit history.
• E)all of the above.

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Definitions:

Efficient

An economic condition where resources are allocated in the most optimal way, maximizing the production of goods and services without wasting any resources.

Production Possibilities Frontier

A graph that illustrates the maximum amounts of two goods that a society can produce with the available resources and technology, given that it is using its resources efficiently.

Representativeness Bias

A cognitive bias where individuals incorrectly assess the probability of an event based on similarities to existing prototypes in their mind, rather than on actual evidence.

Availability Bias

A cognitive bias where individuals overestimate the importance of information that is readily available to them.