Identify the Natural Peril That Is Generally Insurable

question 54

Multiple Choice

Identify the natural peril that is generally insurable.

• A)Volcanic eruption
• B)Earthquake
• C)Epidemic
• D)Frost
• E)Windstorm

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Definitions:

Indifference Curve

A graph that represents combinations of goods among which a consumer is indifferent, showing the same level of satisfaction to the consumer.

Utility

A measure of satisfaction, usefulness, or pleasure derived from consuming goods and services.

Budget Constraint

A limit on the consumption bundles that a consumer can afford given the prices of goods and the consumer's income.

Utility

The satisfaction or benefit derived from the consumption of goods and services.