There Are Three Banks in East Panhandle

question 52

Multiple Choice

There are three banks in East Panhandle.First State Bank which currently has 25 percent of the deposits,Second State Bank which currently has 40 percent of the deposits,and Third State Bank which has the rest.According to the Department of Justice Guidelines,this market will be identified as:

• A)unconcentrated.
• B)mildly concentrated.
• C)moderately concentrated.
• D)highly concentrated.
• E)monopoly.

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Definitions:

Conforming

Adhering to or complying with a set standard, rule, or norm.

Non-conforming

Refers to a property or product that does not meet local zoning or building standards.

Shipment Contract

A contract under which a seller turns goods over to a carrier for delivery to a buyer. Both the title and risk of loss pass to the buyer when the goods are given to the carrier.

Proper Tender

A legal and financial term referring to the act of offering to deliver what is due under a contract, specifically in a manner that fulfills all conditions attached to the payment or delivery.