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Messages That Convey Data or Statistics or Simply Put into Words

question 19

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Messages that convey data or statistics or simply put into words what managers already agree on and understand are referred to as:


Definitions:

Deductibles

Deductibles are the amount paid out of pocket by the policyholder before an insurance provider pays any expenses.

Moral Hazard

The risk that one party to a contract can change their behavior to the detriment of the other party once the contract has been executed.

Asymmetric Information

A situation where one party in a transaction has more or superior information compared to another.

Defective

Pertaining to a product or thing having flaws, faults, or imperfections.

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