Multiple Choice
Melvin and Neil run a pawnshop in their neighborhood. They offer loans to individuals in exchange for personal items of higher or equal value, which are used as collateral. If an individual is unable to repay the loan, Melvin and Neil then sell these items at higher rates. In this scenario, Melvin and Neil's pawnshop is an example of a _____.
A) subsidy
B) nonprofit organization
C) business
D) charity
Correct Answer:
Verified
Correct Answer:
Verified
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