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A Primary Purpose of Developing a Personal Contract for Behavior

question 82

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A primary purpose of developing a personal contract for behavior change is to

Understand specific prohibitions and obligations under federal credit laws regarding credit cards, including unrequested cards and unauthorized card use.
Recognize the specific disclosures required by federal credit laws concerning the cost of credit and protections against credit discrimination.
Understand the fundamentals and importance of secure online shopping practices.
Identify different types of credit and their appropriate applications.

Definitions:

Equilibrium

A state where market supply and demand balance each other, and as a result, prices become stable.

Price-Leadership Model

A market situation where one dominant company sets the price of goods or services within an industry and other companies follow suit.

Nash Equilibrium

In game theory, the result of all players’ playing their best strategy given what their competitors are doing.

Maximin Strategy

A decision rule used in situations of uncertainty to maximize the minimum gain or to minimize the maximum loss.

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