Which of the Following Has Been a Drawback in the Insurance

question 42

Multiple Choice

Which of the following has been a drawback in the insurance industry in the recent past?

• A) Too many product and service offerings that confused customers
• B) Limited use of technology in its operations
• C) Limited options in choosing life, hospital, or auto insurance
• D) Many intermediaries, called insurance agents, who were not genuine

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Definitions:

Trade-Offs

The sacrifice of one thing for another, recognizing that choosing some benefits necessitates giving up others.

Production Decisions

The determination of what, how, and for whom goods and services will be produced by a firm.

Output

The total amount of goods or services produced by a company, sector, or economy.

Normative Questions

Questions that address what should be, focusing on value judgments and opinions rather than empirical facts.