Which One of the Following Would Be an Example of the Driver

question 53

Multiple Choice

Which one of the following would be an example of the driver classification category that helps determine insurance rates?

• A)John Brown has a 2005 Mazda Miata Convertible.
• B)Harry Anderson lives in Boca Raton,Florida.
• C)Charlie Purciful is 22 years old.
• D)Charlotte Webb has her vehicle in a locked garage.
• E)Barry Evans has just moved to Raleigh,North Carolina.

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Definitions:

Common Resources

Resources that are not owned by anyone, cannot be easily limited, and are available for use by more than one person or group.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be consumed by one individual without preventing the consumption by others, and without leading to a decrease in available quantity.

Inefficient Allocation

When resources are not optimally distributed, leading to a situation where it is possible to improve at least one person's well-being without worsening any other's situation.

External Effects

Consequences of economic activities on unrelated third parties; can be positive (benefits) or negative (costs).