FIN 320F Exam 1 Working Words (Duvic) Q&A with Complete Solutions Already Graded A+
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Course
FIN 320F
Institution
FIN 320F
FIN 320F Exam 1 Working Words (Duvic)
Q&A with Complete Solutions Already
Graded A+
UNIT 1 -
Incentives - Something that motivates a person to take or avoid taking
an action.
Resources - Physical or intangible assets that can be used to
accomplish a goal.
Confirmation Bias - The tendency t...
Incentives - ✔✔Something that motivates a person to take or avoid taking
an action.
Resources - ✔✔Physical or intangible assets that can be used to
accomplish a goal.
Confirmation Bias - ✔✔The tendency to process information by looking for,
or interpreting information that is consistent with one's existing beliefs.
Encyclopaedia Brittanica
Economic activity - ✔✔The production, distribution and consumption of
economic assets.
Economic assets - ✔✔Assets functioning as stores of value and over which
ownership rights are enforced by institutional units, individually or
collectively, and from which economic benefits may be derived by their
, owners by holding them, or using them, over a period of time. OECD
Glossary of Statistical Terms.
Property rights - ✔✔The right to control an asset. This control includes how
the property should be used, how the benefits from this use are distributed,
and the ability to dispose of the asset.
Socialism - ✔✔A governmental system with a collective or governmental
control of property rights.
Capitalism - ✔✔A market economy where individuals control property
rights, especially the right to control assets used to produce society's
economic assets.
Corruption - ✔✔Dishonest or illegal activity by persons in authority,
especially political leaders, government administrators, judicial officials and
police
UNIT 3 - ✔✔
Business - ✔✔is an organization that raises capital from investors, uses
this capital to obtain productive assets, and uses these productive assets to
produce economic assets--goods and services--for customers.
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