The Uncertainties of Direct and Indirect Losses to Personal or Real

question 27

Multiple Choice

The uncertainties of direct and indirect losses to personal or real property due to fire,windstorms,accidents,theft,and other hazards are called ________ risks.

• A)personal
• B)business
• C)property
• D)liability
• E)speculative

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Definitions:

Strike

The withholding of labor services by an organized group of workers (a labor union).

Exclusive Union

A labor union that only represents workers from a particular company or industry, often having restrictive membership criteria.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in a specified time period.

Minimum Wage

The lowest legally permissible wage that employers can pay their employees.