Chapter Quizzes Online & Trivia

The profitable distribution of exposure serves as a checkmate. It serves as an intermediary among the standard, preferred and poor risks. With its even distribution and classification of risks in business, it places the poor risks to be at par with the preferred risks. Thereby, the standard risk is placed at the middle to limit the effects of these risks. The main reason why these distributions are implemented is for the protection of the insurer from inordinate selections. In this way, the insurer is protected from making selections that will breed more risks than required.

F/q.

Government relief payments given to people with no alternate source of income.

Is not involved in other types of reactions because enzymes are specific

Semiconductor.

They can bargain over the allocation of resources without cost.

Are cost-effective in terms of methods to keep the environment clean. Are voluntary transfers of the right to pollute, from one firm to another. Internalize the externality of pollution by making it costly for firms to pollute.

Social value curve lies to the RIGHT of demand (private benefit) curve. Markets produce SMALLER quantity than is socially desirable

Becomes polarized.

Tax enacted to correct the effect(s) of a negative externality.

Excess coverage over an underlying or primary policy Umbrella policies, sometimes called catastrophe insurance, provide excess coverage over the underlying or primary liability policy.