What Is the Number One Reason Why Consumers Default on Their

question 81

Multiple Choice

What is the number one reason why consumers default on their debts?

• A)medical expenses
• B)defective goods and services
• C)excessive use of credit
• D)fraudulent use of credit
• E)consumer fraud

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Definitions:

White-Collar Crimes

Are illegal acts committed by respectable, high-status persons in the course of their work.

Class

A system of categorizing society into groups based on socioeconomic status, sharing similar levels of wealth, educational attainment, and occupation.

Crime

An action or omission that constitutes an offense and is punishable by law.

Merton's Theory

A sociological theory developed by Robert K. Merton, which addresses the ways that societal structures may lead to certain behaviors among individuals, particularly focusing on deviance and anomie.