What are the advantages of having a fixed rate versus a variable rate? What are the disadvantages?
Answer should be in 3 complete sentences.

A "fixed rate" has a predictable interest rate for the loan's lifetime while a "variable rate" has a low interest rate. Although a "fixed rate" stays the same, it has a higher interest rate than the variable rate. On the contrary, the variable rate's low interest is fluctuating, which means it can also rise depending on the market changes.

Explanation:

Choosing between the "fixed rate" loan versus the "variable rate" loan will largely depend on a person. Most people who have a tighter budget, prefer the fixed rate because it allows them to plan ahead in order to accommodate the payments. However, people who prefer low-interest rates but can quickly repay their loan often choose the variable rate. Paying the loan quickly will prevent any risky situations, such as rising interest rates.

So, this explains the answer.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know