It Is Improper to Classify Any Hazard as "Negligible" Under

question 3

True/False

It is improper to classify any hazard as "negligible" under the Risk Assessment Code if there is the possibility that it will occur in time.

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Definitions:

Substitutes

Goods or services that can be used in place of each other; as the price of one increases, the demand for the other increases.

Price Inelastic

Describes a situation where the demand for a product does not significantly change with a change in its price.

Gasoline Demand

The total quantity of gasoline that consumers are willing and able to purchase at various prices, within a given time period.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity of the good supplied.