People Generally Choose to Depend Upon Others for Goods and Services.Economists

question 110

Multiple Choice

People generally choose to depend upon others for goods and services.Economists view this interdependence as

• A)a good thing, since it fosters friendships and bonds that otherwise would never develop.
• B)a good thing, since it allows people to consume more goods and services than they would otherwise be able to consume.
• C)a bad thing, since self-sufficiency may become necessary in the future.
• D)a bad thing, since interdependence reduces people's self-esteem and causes various social problems.

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Definitions:

Extension Of Credit

An agreement to allow a purchaser to pay for goods or services at a future date, typically involving interest fees.

Fair Credit Reporting Act

A U.S. federal law designed to ensure the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

Investigative Report

A detailed report compiled as the result of a systematic, in-depth investigation or research into a specific issue, situation, or allegation.

Nationwide Consumer

Nationwide consumer refers to an individual who purchases or uses goods and services across an entire country, not limited to a specific area.