Which Source of Consumer Loans Specializes in Home Mortgage Lending

question 152

Multiple Choice

Which source of consumer loans specializes in home mortgage lending?

• A) Commercial banks
• B) Credit unions
• C) Consumer finance companies
• D) Savings and loan associations
• E) None of the above

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Definitions:

Two Goods

A scenario in economics discussing the trade-off or choice between two different products or commodities.

Specialization

The process in which individuals or entities focus on a narrow area of expertise or production, leading to increased efficiency and productivity.

Absolute Advantage

Absolute advantage refers to the ability of a country, company, or individual to produce a good or service more efficiently than competitors, using the same amount of resources.

Trade

The trading of goods, services, or a combination of both among two or more entities, domestically or across borders.