Business Norms

question 13

Multiple Choice

Business norms:

• A) are standards of accepted behavior.
• B) are the same as equilibrium prices.
• C) are equivalent to contract laws.
• D) somewhat like business forms.

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Definitions:

Hardship Cases

Situations or individuals experiencing severe hardship or difficulties, often considered for special assistance or exemption from certain requirements.

Underinsured

A term describing individuals who have insurance coverage but the coverage is inadequate to cover medical expenses or healthcare needs.

Elderly

A term referring to individuals who are significantly beyond the average age of retirement, typically indicating those who are aged 65 years and older.

Fair Credit Reporting Act

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