Which of the Following Would Be Considered an Unacceptable Consumer

question 23

Multiple Choice

Which of the following would be considered an unacceptable consumer loan?

• A) A home improvement loan, secured by a first mortgage
• B) A home improvement loan, secured by a second mortgage
• C) A $10,000 loan on a new $30,000 boat, secured by the boat
• D) A loan on for 80% of the value on a new automobile, secured by the automobile
• E) A loan for 95% of the value of used skydiving equipment, secured by the equipment

Understand the differences between anecdotal and empirical evidence.

Identify the components of a research article and their purposes.

Comprehend the importance of ethical guidelines in research.

Recognize the variety and purposes of different types of journal articles within psychology.

---

Definitions:

Profits

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Concentration Ratios

Measures that indicate the extent to which a small number of firms occupy a large market share within an industry.

Covert Collusion

Secret or concealed agreements between firms to fix prices, limit production, or divide markets, in order to increase profits illegally.

Demand Curve

A graphical representation of the demand schedule showing the inverse relationship between price and quantity demanded.