All of the Following Statements About the Businessowners Policy Are

question 35

Multiple Choice

All of the following statements about the businessowners policy are true EXCEPT

• A)Coverage for business personal property includes coverage for leased personal property which the named insured has a contractual responsibility to insure.
• B)The amount of insurance on the buildings increases by a stated percentage each year.
• C)Additional coverages include pollutant cleanup and removal.
• D)The policy must be written with a deductible of at least $2,000 for property losses.

Understand the concept and applications of various compliance techniques, such as foot-in-the-door and door-in-the-face.

Know the differences between peripheral and central routes to persuasion, including the conditions under which each is effective.

Identify the effects of initial attitudes and requests on subsequent behavior and attitude changes.

Comprehend the sleeper effect in persuasion and the conditions that facilitate its occurrence.

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Definitions:

Nonbinding Price Floor

A minimum price set by the government that is below the equilibrium price, having no effect on the market price or quantity sold.

Consumers

Consumers are individuals or entities that use or consume goods and services for personal use, not for manufacturing or resale.

Producers

Individuals or entities that create, manufacture, or grow products for the purpose of selling them to consumers or other businesses.

Price Support

Government interventions or policies designed to maintain the market price of a commodity or product at a certain level, usually to protect producers' incomes.