Prodigy Progress Is a Private Elementary School Located in the Center

question 210

Multiple Choice

Prodigy Progress is a private elementary school located in the center of Dallas. Students at the school are considered in the top 1% of their age group in terms of IQ scores and aptitude. Parents who want to send their children to the school must get on a waiting list as soon as the child is 12 months old and must make a deposit of $5,000 to the school in order to hold the child's "application" until they reach the age of 5 years. Claire's parents put her on the waiting list at the age of 1 year and paid the deposit; however, when Claire became 5 years old, she did not want to attend the school even though she tested above the requirement. Her parents made the decision to enroll her for the upcoming school year. In this case, Claire ___ part of the market for Prodigy Progress, and her parents ____ part of the market because ____.

• A)was; were; Claire needed to attend school
• B)was; were; Claire had the authority to attend the school
• C)was; were; they had the authority
• D)was not; were; Claire needed to attend school
• E)was not; were; Claire lacked willingness

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Definitions:

NOW Accounts

Negotiable Order of Withdrawal accounts; interest-earning deposit accounts from which holders can write checks.

Money Supply

The inclusive amount of economic monetary assets present at a particular instance in an economy.

Credit Card

A payment card issued to users as a method of payment, allowing the cardholder to pay for goods and services based on the cardholder's promise to pay for them.

Personal Check

A personal check is a paper instrument that allows individuals to transfer money from their bank account to another person or entity.