Making decisions to solve the economizing problems:
First and the foremost include the choices that are we must limit our wants and must use limited sources. In the case of production the productive efficiency the fixed technology and fixed resources must be solved.
The marginal cost and the marginal units must be considered to produce more efficient output. So the basic steps include limiting the needs of unlimited wants and must limit the usage of resources.
Answer 1.
Payday loans are cash loans that are often used when someone needs the money immediately. The borrower leaves a check with the amount of the loan plus an <u>extremely high fee</u><u>,</u> when the borrower is ready to pay, the lender uses the check.
<em>Some states have banned payday loans as a measure to stop the abuse of high fees to borrowers, and to stop the cycle of borrowing. </em>
Answer 2.
The average interest rate on a payday loan is 391% when you can repay the loan in two weeks, after that the rate grows to an average of 521%. From every $100 borrowed there is an interest fee of $15 or $20.
Answer 3.
A loan shark is a lender that charges interests above the established legal rates, they often act in an illegal way and take advantage of the people's desperate need to get money. A loan shark has cruel ways of getting their money back they often use violence and harassment to get paid.
Famous Shark Loans:
Some examples of famous loan sharks are Sam Battaglia, Jimmy Caci, Fiore Buccieri and Anthony Salerno.
Answer: D. Online survey
Explanation: Interview survey is time consuming and John does not have the luxury of time. Phone survey is fast but needs money and John is cash trapped. Longitudinal survey requires that a long time is spent on the survey and it is expensive. John does not have both the time and money. Mail survey is cheap but needs time to get in the answers and John does not have much time. The best option for John is online survey because online survey are less time consuming, cheaper, and results gotten faster.
