With a FICO Score

question 87

Multiple Choice

With a FICO score:

• A) The higher your FICO score, the better your credit
• B) The higher your FICO score, the worse your credit
• C) The lower your FICO score, the better your credit
• D) None of the above

---

Definitions:

Economic Models

Simplified representations of complex economic processes, used to predict future economic behaviors and outcomes.

Entrepreneurship

The activity of setting up a business, taking on financial risks in the hope of profit.

Implicit Costs

The opportunity costs of resources already owned by the firm and used in business, for which no cash payment is made.

Price-Discriminating

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like buyer's age, location, or purchase history.