A local insurance company has worked closely with an area real estate firm in writing mortgage insurance as well as other insurances such as health and accident policies to newcomers in a small university town. Recently one of the town's oldest and most reliable banks has become cautious about making mortgage loans, and both the realtors and the insurance company have lost business as a result. They agree to change their own accounts to a newer bank with a more liberal lending policy and to encourage their clients to follow their course. Since it is a small town with a sizable number of newcomers who visit the real estate firm for rentals or home purchases, their combined action is likely to affect the older, more conservative lender. The practice in which they are engaging is:

Question

Business

Nickolas Mckenzie

5 July, 16:41

A local insurance company has worked closely with an area real estate firm in writing mortgage insurance as well as other insurances such as health and accident policies to newcomers in a small university town. Recently one of the town's oldest and most reliable banks has become cautious about making mortgage loans, and both the realtors and the insurance company have lost business as a result. They agree to change their own accounts to a newer bank with a more liberal lending policy and to encourage their clients to follow their course. Since it is a small town with a sizable number of newcomers who visit the real estate firm for rentals or home purchases, their combined action is likely to affect the older, more conservative lender. The practice in which they are engaging is:

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Answers (1)

Know the Answer?

Hannah Lane · Answer 1

The correct answer is letter "B": Boycott.

Explanation:

A boycott is a denial to start or continue a commercial relationship (or from any other kind) with an individual or organization. This because of committing a fault that the involved parties disagree in allowing. Stop purchasing or selling a product to a company, group, or country is one of the most common practices of a boycott.

Usually, boycotts are pressure measures in an attempt to correct an action that boycotters consider improper.