What Is the Purpose of Business Liability Coverage

question 17

Multiple Choice

What is the purpose of business liability coverage?

• A) Protect the policy holder from losses due to injury to another person or another person's property
• B) Protect the business from embezzlement by an employee
• C) Protect the business from damage due to fire or flood
• D) Protect the business from losses due to negligence by a public employee

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Definitions:

Relative Prices

The price of one good or service compared to another, usually expressed as a ratio.

Price of Good

The amount of money required to purchase a specific product or service.

Affordable Consumption Options

Economically accessible choices available to consumers for goods and services within their budget constraints.

Indifference Curves

A graph representing different bundles of goods between which a consumer is indifferent, showing preferences and trade-offs.