Which of the Following Statements Regarding Insurance and Gambling Is

question 31

Multiple Choice

Which of the following statements regarding insurance and gambling is (are) true?
I.Insurance is used to handle existing pure risks,while gambling creates a new speculative risk.
II.Insurance usually involves risk avoidance,while gambling typically involves only risk reduction.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Open Systems Anchor

A perspective in organizational design that views organizations as open systems that interact with their environments and need to adapt to survive.

External Environments

Factors outside an organization that can impact its performance, including economic, social, political, and technological elements.

Knowledge Management

The process of creating, sharing, using, and managing the knowledge and information of an organization.

Knowledge Acquisition

The process of obtaining, assimilating, and internalizing new information or skills, often for organizational learning and development.