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Match the Term with Its Definition

question 27

Essay

Match the term with its definition.Some terms may not be used
a.All-risk approach
b.Business risk
c.Compensatory damages
d.Disability insurance
e.Economic damages
f.Health maintenance organization
g.Market risk
h.Named-peril approach
i.Peril
j.Preferred provider network
k.Pure risk
-The possibility of losses associated with the assets and earnings potential of a business.


Definitions:

Utility Functions

Mathematical representations describing the level of satisfaction or utility that a consumer derives from consuming a good or combination of goods.

Equilibrium

A state of balance in a market, where demand equals supply, and economic forces are at rest.

Welfare Economics

Normative evaluation of markets and economic policy.

Equilibrium

A state in which market supply and demand balance each other, resulting in stable prices and quantities.

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