The Universe or "Totality of Items or Things" Under Consideration

question 119

Multiple Choice

The universe or "totality of items or things" under consideration is called

• A)a sample.
• B)a population.
• C)a primary data source.
• D)a secondary data source.

---

Definitions:

Pooling

The act of grouping together resources, risks, or interests to achieve a common goal or reduce risk.

Supply Curve

A visual chart demonstrating how the price of an item correlates with the volume of that item that sellers are ready to provide.

Insurance

A financial product that transfers the risk of financial loss from an individual or business to an insurance company, in exchange for premium payments.

Lloyd's of London

A British insurance and reinsurance market where members join together as syndicates to insure and spread risks.