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snow_tiger [21]
2 years ago
13

Can you think of a reason why people in general do not lend money to one another to buy a house or a car? how would your answer

explain the existence of banks?
Social Studies
1 answer:
dimaraw [331]2 years ago
6 0

There are several reasons why people don't lend money to one another in general to purchase a home or a car.

These are as follows:-

  • Open-ended loans to relatives and friends are common. The parties do not agree on a schedule for payments and do not take interest on the loan into account.
  • With an open-ended loan, the borrower might not be aware of the urgency of loan repayment. If there is no due date, paying back the loan is the borrower's lowest priority.
  • It might be challenging to ask a friend or member of your family for repayment of a debt.
  • Being around people who had lent him money made them uneasy. Being around other family members who were aware of the debts was unsettling as well.
<h3>What distinguishes open-ended loans from closed-ended loans?</h3>
  • An installment loan, such as one for a car, is a closed-end credit product with a set interest rate and monthly payment.
  • On the other hand, open-end credit is revolving credit that lets you access money continuously as you make payments and only charges interest on what you spend.

To learn more about Closed-end loans, visit:

brainly.com/question/28021209

#SPJ4

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Bob believes that there is a difference between the ""deserving"" and ""undeserving"" poor and that only the ""deserving"" poor
Vlad [161]

Bob believes that there is a difference between the "deserving" and "undeserving" poor and that only the "deserving" poor should receive government assistance. bob’s view best illustrates <u>Labeling theory.</u>

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Labeling theory is an approach in the sociology of deviance, how social control actors connect stereotypes that stigmatize a particular group, and what behavior the stigmatized person does after being labeled. Focus on how to change.

An example of labeling could be a thief because a young man across the street was seen around another young man with deviant behavior. Even if he is not a thief, it can lead to him stealing because of the label given to him.

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Learn more about Labeling theory here: brainly.com/question/14285321

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2 years ago
In recent decades, hobbies and sports have become more important in the lives of people in China and other East Asian countries.
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PLEASE HELP:  Evaluate how Russia’s government shaped people’s lives in both positive and negative ways. Include one of the foll
lawyer [7]

<em>Russia's government </em>have shaped peoples lives through ideology and respect of the communism principles.

The way people are right now in Russian has some background. Russia was heavily influenced by the <em>Mongols</em> rules.

The Mongols entered for the first time in Russia in 1219. They did it so, by Kieva.

There were many influences due to the invasion. Russia modified its customs, language, government and even religion with the Orthodox church. The religious center moved from Kieve to Vladimir and finally to Moscow in 1322.

With the influence of Mongols, Russia became more of an Asiatic country regarding government and social instruction. That is why nowadays we see the Russian political system is reflected in the indoctrination of its citizens.

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3 years ago
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