Describe How Each of the Following Will Affect the Supply

question 9

Essay

Describe how each of the following will affect the supply of insurance
A larger pool of insured persons
Lower administration costs for insurance companies
Higher premiums with no change in risk experience
A greater degree of risk aversion on the part of insurers

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Definitions:

Gris-Gris

In West African and Caribbean folklore, a talisman or amulet believed to protect the wearer from evil or bring luck.

Bambara

A Mande ethnic group native to much of West Africa, particularly in Mali, and also a language spoken by this group.

Natural Reproduction

The biological process by which new individual organisms are produced from their "parents," occurring in both plants and animals.

Slave Population

Refers to the number of individuals living in slavery within a certain geographical area or time period.