Explain What Started the Financial Crisis of 2006 and Why

question 42

Essay

Explain what started the financial crisis of 2006 and why it escalated on a such a widespread scale.

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Definitions:

Class Inclusion

Categorizing a new object or concept as belonging to a broader group of objects or concepts.

Preoperational Child

A stage in Jean Piaget's theory of cognitive development, typically from ages 2 to 7, where children begin to use language and think symbolically, but their thinking is still intuitive and egocentric.

Seriation

Placing objects in an order or series according to a property or trait.

Zone of Proximal Development

A concept in educational psychology referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.