A Method of Avoiding Risk Whereby Groups Come Together to Form

question 21

Multiple Choice

A method of avoiding risk whereby groups come together to form a pool so as to share a risk if anyone in the group experiences a negative event is known as

• A) risk pooling
• B) self-insurance
• C) Both answers are correct

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Definitions:

Criticisms

Critical evaluations or analyses aimed at identifying faults or areas of improvement.

Social Stratification

The hierarchical arrangement and classification of individuals and groups in any given society, often based on wealth, race, education, and power.

Blau

Likely refers to Peter M. Blau, a sociologist known for his work on social structure and interpersonal dynamics.

Structural Mobility

The movement of individuals or groups within or between social strata in a society due to changes in the economy, societal norms, or other structural factors.