___________ Is an Effective Way to Handle Small Exposures to Loss

question 22

Multiple Choice

___________ is an effective way to handle small exposures to loss when insurance is too expensive. ​

• A)Loss assumption
• B)Risk assumption
• C)Risk prevention
• D)Loss control

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Definitions:

Median Purchasing

The median level of expenditure on goods and services by a designated group or area, serving as a central tendency measure of consumption.

Poorest 25 Percent

The segment of a population that falls within the lowest quarter in terms of income level, often highlighted in discussions of economic inequality.

Education Level

The highest degree or level of school completed by an individual, which can significantly influence employment opportunities, income, and social status.

Value Sensitivity Quotient

A measure of how sensitive a consumer is to the price and value of a product or service, influencing their purchasing decisions.