The Banking Industry Was a Good Candidate for Disruption by Person-To-Person

question 53

Multiple Choice

The banking industry was a good candidate for disruption by person-to-person (P2P) technology and disintermediation by ZOPA because:

• A)the industry offers a widely-needed service.
• B)of fierce competition and low barriers to entry.
• C)the industry was making huge profit margins off customers.
• D)the industry had small profit margins.

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Definitions:

Cognitive Psychologists

Cognitive psychologists study mental processes including perception, thinking, memory, and judgment, focusing on how people understand, diagnose, and solve problems.

Decision Making

The method of selecting options through recognizing a decision to be made, collecting data, and evaluating different solutions.

Language

A system of communication that utilizes symbols, sounds, or gestures to convey meaning and facilitate complex interactions.

Carl Rogers

A psychologist who founded the humanistic approach to psychology, emphasizing the importance of free will, self-actualization, and empathy.