What Rights Would a College Friend of Yours Have Whose

question 70

Multiple Choice

What rights would a college friend of yours have whose credit card application was denied?

• A)The right to view her credit report
• B)The right to have the file be accurate
• C)The right to point out errors in her file
• D)The right to request mistakes in the file be corrected
• E)All of the above are correct answers.

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Definitions:

Invisible Hand

The invisible hand is a metaphor introduced by Adam Smith to describe the unintended social benefits resulting from individual actions driven by self-interest.

Perfect Competition

A market structure characterized by a large number of small firms, homogeneous products, and the free entry and exit of firms, where no single firm can influence the market price.

Mixed Economy

An economy in which production and distribution is done partly by the private sector and partly by the government.

Pure Communism

An idealized form of communism in which there is no need for a state and goods are distributed according to people's needs.