Define 'Sub-Prime Mortgage

question 42

Short Answer

Define 'sub-prime mortgage'

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Definitions:

Income Distribution

The way in which a nation’s total earnings are spread among its population, affecting the economic inequality among different groups.

Competitive Industry Y

An industry where a large number of firms compete against each other to sell their goods or services, making no single firm able to control the market price.

Substantial Losses

Significant financial deficits encountered by a business, usually indicating a much greater extent of economic damage beyond normal losses.

Output Contract

An agreement between a producer and a buyer to sell and purchase a specific amount of output at a specified price.