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frosja888 [35]
3 years ago
12

PLEASE HELP ME WITH ECONOMICS!!!!!! 12th grade.

Social Studies
1 answer:
Rainbow [258]3 years ago
8 0

The major differences between a mortgage, loan, and a credit card is the term of the loan, that is, how long one has to repay and what terms and what is the percentage of interest that you have to pay for the privilege of taking out the loan. A mortgage is typically structured for a set amount over a set period of time. A loan is typically set for a set amount and the person pays an amount for a period of time. A credit card is a revolving line of credit that one pays interest on balances.

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Research is a logical and systematic search for new and useful information on a particular topic. Research is important both in scientific and nonscientific fields. In our life new problems, events, phenomena and processes occur every day. Practically, implementable solutions and suggestions are required for tackling new problems that arise. Scientists have to undertake research on them and find their causes, solutions, explanations and applications.

The research is broadly classified into two main classes: 1. Fundamental or basic research and 2. Applied research. Basic and applied researches are generally of two kinds: normal research and revolutionary research. In any particular field, normal research is performed in accordance with a set of rules, concepts and procedures called a paradigm, which is well accepted by the scientists working in that field. In addition, the basic and applied researches can be quantitative or qualitative or even both (mixed research).

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Basic research is an investigation on basic principles and reasons for occurrence of a particular event or process or phenomenon. It is also called theoretical research. Study or investigation of some natural phenomenon or relating to pure science are termed as basic research. Basic researches sometimes may not lead to immediate use or application. It is not concerned with solving any practical problems of immediate interest. But it is original or basic in character. It provides a systematic and deep insight into a problem and facilitates extraction of scientific and logical explanation and conclusion on it. It helps build new frontiers of knowledge. The outcomes of basic research form the basis for many applied research.

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