The Five Major Categories of Variables Known as External Forces

question 31

True/False

The five major categories of variables known as external forces are: 1) economic forces, 2) social, cultural, demographic, and natural environment forces, 3) political, governmental, and legal forces, 4) technological forces, and 5) competitive forces.

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Definitions:

Adjuster

A professional who investigates insurance claims to determine the extent of the insurer's liability.

Donee Beneficiary

A third party who benefits from a contract made between two other parties, primarily in contexts like insurance or gifts.

Third-Party

An individual or group besides the two primarily involved in a contract or transaction.

Parol Evidence Rule

A legal principle that prevents parties from presenting extrinsic evidence that contradicts or adds to the written terms of a contract.