The Needs of Society Always Take Precedence Over the Needs

question 22

True/False

The needs of society always take precedence over the needs of its individual members.

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Definitions:

Loan

A sum of money that is borrowed, typically from a financial institution, and is expected to be paid back with interest.

Months

Units of time, each approximately 30 days long, used to measure durations and periods in a year.

Investment

Channeling funds into ventures with the expectancy of generating income or profit.

Interest

Interest is the cost of using someone else's money or the income earned from lending money, calculated as a percentage of the principal amount.