Examlex
What perspective provides a synthesis of macro-level and micro-level factors?
Avoid Risk
The strategy of making decisions that minimize the possibility of experiencing negative outcomes.
Auto Insurance
A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident or other vehicle-related damages.
Probability
A measure of the likelihood that a specific event will occur, often expressed as a number between 0 and 1.
Expected Loss
An estimate of the amount of money or value that may be lost in an investment or venture, considering the probability of various outcomes.
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