Choose the One Most Appropriate Answer for Each

question 40

Multiple Choice

Choose the one most appropriate answer for each.
-warrants against defects caused by faulty workmanship or materials and against major structural defects

• A)all-risks policy
• B)actual cash value
• C)broad form (HO-2)
• D)endorsement
• E)flood insurance
• F)form HO-4
• G)form HO-6
• H)homeowner policy
• I)homeowner's warranty
• J)inflation guard
• K)insurable interest
• L)insurance premium
• M)insured
• N)medical payments
• O)new for old
• P)old for old
• Q)peril
• R)public liability
• S)tenant's policy
• T)worker's compensation policy

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Definitions:

Price Elasticity

A gauge of the extent to which the demand for a certain item is affected by fluctuations in its cost.

Electricity Consumption

The total amount of electric power used by consumers within a specific period.

Perfectly Elastic

Describing a situation where the quantity demanded or supplied responds infinitely or by an unlimited amount to a change in price.

Horizontal Line

A straight line on a graph that runs parallel to the x-axis, indicating a constant value.