It Would Be Difficult to Sell Consumers Life Insurance If

question 43

True/False

It would be difficult to sell consumers life insurance if their notion of time is cyclic.

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Definitions:

Marginal Benefit

The heightened enjoyment or usefulness one receives by using an additional unit of any good or service.

Law of Diminishing Returns

A principle stating that as one factor of production is increased while others are held constant, the resulting addition to output will eventually decrease.

Coase Theorem

An economic theory stating that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own.

Director of Housing

A position responsible for overseeing housing programs, policies, and services, typically within a governmental or nonprofit organization.