Which of the Following Is a Difference Between Credit Unions

question 8

Multiple Choice

Which of the following is a difference between credit unions and commercial banks?

• A) Unlike commercial banks, credit unions are not-for-profit organizations.
• B) Unlike credit unions, commercial banks are nondepository organizations.
• C) Unlike credit unions, commercial banks are owned by their depositors.
• D) Unlike commercial banks, credit unions charge very high interest rates on loans.

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Definitions:

Average Total Cost Curve

A graphical representation in economics showing the average total cost of production at different levels of output.

Demand More Elastic

A situation where the quantity demanded of a good or service is highly responsive to changes in its price.

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The activity or profession of producing advertisements for commercial products or services.

Perfect Price Discrimination

A pricing strategy where a seller charges each buyer the maximum price they are willing to pay, capturing the entire consumer surplus.