Which of the Following Statements Is True About Inland Marine

question 53

Multiple Choice

Which of the following statements is true about inland marine insurance?

• A)It is an outgrowth of automobile insurance.
• B)It is often on an open-perils basis.
• C)It is generally for actual cash value.
• D)It is often on a named-perils basis.
• E)It includes wear and tear and intentionally caused loss.

---

Definitions:

Product Markets

Markets where goods and services produced by businesses are sold to households and other businesses.

Optimal Level

The most efficient, effective, or desirable point or state for a specific goal or condition, often in economic and operational contexts.

Market Supply Curve

Represents the total quantity of a good or service that all producers in a market are willing to sell at different price levels, at a given time.

Shift

A change in the position of a demand or supply curve, indicating a change in the quantity demanded or supplied at every price.