An Important Consideration Regarding Applying for a Loan Is That

question 59

Multiple Choice

An important consideration regarding applying for a loan is that

• A)you may not have a good credit rating unless you have borrowed before.
• B)it would be better to simply increase your credit card limit than take out a loan.
• C)a longer term is preferred because of the smaller payments.
• D)it lets you purchase items now,rather than later,without affecting your budget.

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Definitions:

Concrete Operational Stage

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 7 and 11, when children gain a better understanding of mental operations and can think logically about concrete events.

Intimate Social Relationships

Deeply personal and close connections between individuals, characterized by mutual affection, bonding, and support.

Id Impulses

Id impulses refer to the innate and primitive desires and drives present in the human psyche, as identified in Freudian psychoanalysis, representing the unconscious and demanding immediate satisfaction.

George Herbert Mead

An American sociologist and philosopher considered one of the founders of social psychology, known for his work on the development of self and the theory of symbolic interactionism.