The true statement is that: <em>There is an inverse relationship between the </em><em>quantity of money</em><em> demanded and the </em><em>interest rate.</em>
In economics, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
An interest rate can be defined as an amount of money that is charged as a percentage of the total amount borrowed by a borrower from a creditor or financial institution.
On a related note, there exist an inverse relationship between the quantity of money demanded by a borrower and the interest rate charged by a creditor or lender. Thus, when the interest rate is high, the quantity of money demanded decreases (falls) while the quantity of money demanded increases (rises) when the interest rate is low.
<em>In conclusion, borrowers are more likely to demand for</em><em> money</em><em> when the </em><em>interest rate</em><em> is low and vice-versa.</em>
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The US has a free market system. The country can do mass production in a day. The business sector dictates the supply and demand of the business. The government can decide whether they should approve or deny the business and what they should and should not produce.Brazil has a command and traditional market economy. The government dictates the business. They dictate the supply and demand and the products that should be produced.Russia recently has been recognized as a market economy however they follow the traditional and command market system which is similar Braz
Answer:
self-definition
Explanation:
Self definition can be described as the typical behaviour or character of a person. There are certain behavioral characteristics which make up the self definition of a person. For instance, a person who has a calm and composite composure will make a more positive self- definition as compared to the person who is always confused.
However, there are many environmental factors which influence the self definition of a person like the society of his/her upbringing.
