What Is the Name Often Given to the Type of Insurance

question 65

Multiple Choice

What is the name often given to the type of insurance coverage that requires an insurer to compensate for the loss of profits?

• A) an all risk policy
• B) comprehensive risk insurance
• C) a casualty policy
• D) environmental impairment insurance

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Definitions:

Factor X

A term used to denote an unknown or unspecified factor in various contexts, such as productivity, growth, or other economic models.

Perfect Substitutes

Goods that can be completely replaced by another with no loss of utility to the consumer.

Inputs

The resources such as labor, materials, and capital, that are used in the production process to produce goods and services.

Output

The total amount of goods or services produced by an individual, firm, industry, or economy in a given period.