QA › Economics › What type of financial institution typically has membership requirements?
Q

What type of financial institution typically has membership requirements?

A

A credit union is the type of financial organization that typically has requirements for membership. This is its main difference from other financial institutions such as a bank. Other than that, a credit union accepts deposits, provides loans and offers a wide spectrum of financial products and services. A credit union will only offer services to members of a particular group such as those with higher education, in the military or a specific professional organization.

3 years ago
112 Views
What are the two steps a producer can take to gain an absolute advantage?

Producers have a huge task to make sure that they remain relevant in the market. One of their biggest goals is to have an absolute advantage. A producer will have…

3 years ago
135 Views
The entirety of a packet at one layer becoming the payload section at another layer is known as

Encapsulation, reminiscent of medical capsules is the entirety of a packet at one layer becoming the payload section at another layer. In information technology, data is a part of a…

3 years ago
111 Views
Which best explains what a credit score represents?

Financial institutions often use a credit score rating before lending out money to their customers. Therefore, a credit rating is well defined in choice B - a numerical rating that…

3 years ago
122 Views
Incorporation creates a local government and

Incorporation is the founding of a new corporation that could be for or not for profit. For instance, people gathering to dwell in a previously unsettled place in huge quantities…

3 years ago
112 Views
Develop: assess:: train:

Once a product is developed, it’s assessed on its performance to ascertain its performance. With training, what follows is doing an analysis or measurement of individual performance. Assignments are given…

3 years ago
127 Views
What is a diminishing marginal rate of substitution?

The diminishing marginal rate of substitution means that a consumer is more likely to forgo a product (A) as another product (B) suits hisneeds in a better way. In other…

3 years ago
114 Views