Identify the Stop-Loss Insurance Contract in Which a Limit Is

question 53

Multiple Choice

Identify the stop-loss insurance contract in which a limit is set per claim.

• A)Participative stop loss
• B)Aggregate stop loss
• C)Distributive stop loss
• D)Specific stop loss
• E)Contributory stop loss

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Definitions:

Public Good

Public goods are goods that provide benefits to all members of a society, without the ability to exclude individuals from enjoying the benefits, such as clean air or national defense.

Marginal Benefit Curve

A graphical representation showing how the benefit to consumers changes as the quantity of a good consumed increases.

Society's Welfare

Refers to the overall well-being and quality of life of the people in a community, including factors like health, economic stability, and social relationships.

Marginal Social Benefit

the additional benefit to society as a whole from consuming one more unit of a good or service.