________ Is a Term That Refers to the Chance of Loss

question 72

Multiple Choice

________ is a term that refers to the chance of loss, the degree of probability of loss, and the amount of possible loss.

• A) Speculation
• B) Hazard
• C) Insurability
• D) Risk

---

Definitions:

Arrow's Impossibility Theorem

A theory stating that no rank-order voting system can meet a set of reasonable fairness criteria simultaneously.

Difficulties

Challenges or situations that require effort to overcome.

Borda Count

A voting method that ranks options or candidates based on points assigned by voters' preferences rather than a single preference vote.

Voting Method

A system or process used to determine the outcome of an election or decision by casting and counting votes.