Since Colonial Times,the U

question 52

Multiple Choice

Since colonial times,the U.S.government controlled businesses at some level by:

• A) letting market actions and interactions between private consumers and producers drive decisions
• B) regulating, licensing and closing them.
• C) protecting private property rights.
• D) providing national defense.

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Definitions:

Insurance Contracts

Legal agreements between an insurer and the insured, defining the claims which the insurer is legally required to pay.

Insurance Company Agent

An individual authorized to sell and manage insurance policies on behalf of an insurance company.

Broker

An individual or firm that acts as an intermediary between buyers and sellers, typically in financial transactions, real estate, or insurance.

Assumes a Risk

A legal doctrine where an individual knowingly exposes themselves to a hazard or danger and is considered to have consented to the risk involved.