Which of the Following Clauses Are Associated with Major Medical

question 11

Multiple Choice

Which of the following clauses are associated with major medical coverage?

• A) Subrogation
• B) Mortgagee
• C) Replacement cost
• D) Deductible

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Definitions:

Total Surplus

The sum of consumer and producer surplus, representing the total benefit to society from the production and consumption of goods or services.

Trade

The exchange of goods, services, or both between two or more parties.

Producer Surplus

The difference between the amount a producer is paid for a good or service and the minimum amount they are willing to accept for producing it.

Trade

The action of buying, selling, or exchanging goods and services between people, firms, or countries.