Which One of the Following Would Be Your Best Selection

question 84

Multiple Choice

Which one of the following would be your best selection if you could only choose one of the following types of insurance?

• A)a basic plan combined with a major supplementary plan
• B)combined dental and vision plan
• C)dread disease and cancer plan
• D)long-term care
• E)accident

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Definitions:

Marginal Profit

The rise in earnings achieved by selling an extra unit of a product or service.

Market Price

The current price at which an asset or service can be bought or sold in a marketplace.

Competitive

A state of being in which entities vie against each other to achieve a goal, such as market dominance or winning a contest.

Profit-Maximizing

The process or strategy of adjusting operations and resources to achieve the highest possible profit.